Key Takeaways
- • Michael Arrington's Arrington XRP Capital Fund, LP disposed of its XRPN beneficiary stock in Armada Acquisition Corp. II, according to SEC filings reported by the publisher.
- • The disposal occurred as Ripple-backed Evernorth Holdings disclosed the closing date for its merger with Armada Acquisition Corp. II.
- • SEC filings reportedly show the XRPN securities were forfeited or converted in transactions reported by Jack Michael Arrington.
- • Arrington, as managing member of the general partner, holds voting and dispositive control over the fund's shares, per the 8-K.
Summary
American investor Michael Arrington and his Arrington XRP Capital Fund have disposed of XRPN beneficiary stock, according to reporting by CoinGape, which was republished by Cryptonews.net. The disposal coincided with an announcement from Ripple-backed Evernorth Holdings disclosing the closing date for its merger with Armada Acquisition Corp. II.
SEC filings for Armada Acquisition Corp. II (XRPN) indicate that XRPN securities held by Arrington XRP Capital Fund, LP were reported as forfeited or converted in transactions filed by Jack Michael Arrington. An 8-K filing states that Michael Arrington, as managing member of the GP, holds voting and dispositive control over the shares held by the fund.
Arrington, the former founder of TechCrunch, announced the fund in 2017 as a crypto-denominated vehicle initially reported at $100 million, with capital deployed into blockchain technology and denominated in XRP. The primary source does not detail the number of shares disposed of or the economic terms of the forfeiture or conversion.
SEC filings for Armada Acquisition Corp. II (XRPN) indicate that XRPN securities held by Arrington XRP Capital Fund, LP were reported as forfeited or converted in transactions filed by Jack Michael Arrington. An 8-K filing states that Michael Arrington, as managing member of the GP, holds voting and dispositive control over the shares held by the fund.
Arrington, the former founder of TechCrunch, announced the fund in 2017 as a crypto-denominated vehicle initially reported at $100 million, with capital deployed into blockchain technology and denominated in XRP. The primary source does not detail the number of shares disposed of or the economic terms of the forfeiture or conversion.
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