Michael Arrington and Arrington XRP Capital Forfeit Armada Shares Ahead of Evernorth Merger
- —Arrington forfeited 230,694 Class A and millions of Class B Armada shares for no consideration
- —169,306 Class A and 3,335,328 Class B shares converted into Evernorth Holdings stock
- —Arrington XRP Capital Fund holds 19.9% voting shares in the combined Evernorth
- —XRPN closed at $16.91 on its first trading day, fell to $15.60 in premarket
Why it matters: Evernorth's ownership structure takes shape ahead of its Nasdaq debut with 473 million XRP, shaping institutional demand for the token.
Source: CoinGape