Michael Arrington and Arrington XRP Capital Fund reported disposals of Armada Acquisition Corp II securities in SEC filings. Immediately before Armada’s merger with Evernorth Holdings became effective, Arrington forfeited Class A and Class B shares and warrants for cancellation without compensation. The source says he disposed of 230,694 Class A shares, millions of Class B shares and associated warrants across two filings.
The source says the remaining 169,306 Class A shares and 3,335,328 Class B shares converted into Evernorth Class A common stock, while outstanding warrants converted into Evernorth warrants. Arrington disclaimed beneficial ownership except for his financial interest; the fund holds 19.9% of voting shares in the combined company. Evernorth completed the merger, and its stock began trading on Nasdaq as XRPN on October 12; the source does not supply a year for that date.
