Armada Acquisition Corp. IIXRPN

Armada Acquisition Corp. II is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0002044009. It completed its initial public offering in May 2025, raising $230M in gross proceeds and listing on Nasdaq. Class A shares trade under the ticker XRPN, units under XRPNU, warrants under XRPNW on Nasdaq. The vehicle is sponsored by Armada through Armada Sponsor II LLC. The mandate targets technology, financial services. Shareholders voted the combination through; closing is a matter of mechanics, and the redemption window has already run.

Approximately $241,164,305, or about $10.49 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.

By Nov 22, 2026. If no combination closes by then the sponsor must seek a further extension or wind the vehicle up and return the trust.

The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.

Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $10.49 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.

Class A shares trade as XRPN on Nasdaq, the units as XRPNU, and the warrants as XRPNW. Units trade first and separate into their component securities roughly 52 days after the IPO; only the Class A shares carry the redemption right against the trust.

No, and the gap between them is the whole trade. Trust per share is a disclosed, contractual figure of $10.49, being what a redeeming holder receives. The market price is whatever the shares change hands at: most recently $15.00, a spread to the redemption value. Quotes on this site are delayed and indicative; confirm on your own venue before trading.

Each unit also carried one-half warrant per unit, which is dilution deferred until exercise. Both are disclosed in the prospectus and both survive into the combined company, which is why a de-SPAC at $10 is not economically the same as an IPO at $10.

Armada Sponsor II LLC is the sponsor entity, part of the Armada franchise. That franchise has launched 4 vehicles in total, of which 1 closed a combination and 0 liquidated, a 100% completion rate on resolved vehicles. Named principals: Douglas M. Lurio, Stephen P. Herbert.

Cohen & Company, Northland Securities. Cohen & Company and Northland Securities were credited as book-running managers on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Yes. XRPN returned a live quote of $15.00 on Nasdaq. Quotes here are delayed and refreshed on a schedule rather than streamed, so treat the figure as indicative and confirm on your own venue. Units and warrants trade under their own symbols and are quoted separately.

That is not a question this site answers. Armada Acquisition Corp. II is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.

Filings Armada Acquisition Corp. II submitted to the SEC under CIK 0002044009: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.