secwatch.observer — SEC 8-K summary
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Issuer:     Armada Acquisition Corp. II (XRPN)
CIK:        0002044009
Form:       8-K
Filed at:   2025-10-20T23:59:59+00:00
Accession:  0001193125-25-243103
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.02, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Armada Acquisition Corp. II signs definitive merger with Pathfinder Digital Assets; $214M PIPE
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- SPAC to acquire Pathfinder Digital Assets; Ripple Labs Inc. involved; shareholders receive Pubco Class A shares.
- PIPE of $214.05 million cash plus 600,000 XRP tokens at $10/share; Adjustment Shares tied to XRP VWAP.
- Sponsor forfeits 120,000 Class A shares, 2,364,000 Class B shares, and 60,000 private placement warrants.
- Six-month lock-up for Sponsor, Ripple, and certain affiliates post-closing.
- Closing conditions include SPAC shareholder approval, HSR expiration, and minimum $5M net tangible assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2044009/000119312525243103/0001193125-25-243103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2044009/000119312525243103/d97098d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-243103

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