Armada Acquisition SPAC Surges 270% Ahead of Evernorth Merger

Key Facts

1Armada Acquisition Corp. II shares rose approximately 270% over the past week.

2The stock is trading at nearly four times its $10.50 trust value ahead of the merger with Evernorth.

Armada Acquisition Corp. II shares rose approximately 270% over the past week, CoinDesk reported. The stock is currently trading at nearly four times its $10.50 trust value ahead of its merger with Evernorth, an XRP treasury company.

XRPN closed at $39.42 on October 2, 2026, having reached a day high of $53 and a low of $27. The significant price action is driven by speculative trading and momentum as the shell company prepares to finalize its business combination with Evernorth.