XRP News: Evernorth Revises Share Terms to Reflect XRP Value at Closing

In XRP news today, Evernorth is changing the number of shares issuable to investors in connection with its proposed business combination with Armada Acquisition Corp. II.

The amended subscription agreements tie the share count to XRP’s value at closing, measured by its volume-weighted average price, rather than the $2.36 XRP price used when the business combination agreement was signed.

The company said the amendment is intended to align its capitalization with the market value of its underlying XRP holdings at closing.

Evernorth, which is seeking to become a publicly traded digital asset treasury through the transaction, said the revised terms were filed in an amended Form S-4 registration statement with the U.S. Securities and Exchange Commission.