Evernorth and Armada II Merger Approved, Expected to Launch on Nasdaq as XRPN on October 8

Evernorth Holdings and Armada Acquisition Corp. II announced that shareholders of Armada II approved the business combination at a special shareholder meeting on September 30. The transaction is expected to raise approximately $300 million in total cash proceeds, with Evernorth anticipated to hold around 473 million XRP, making it the largest publicly traded pure XRP treasury company. The merger is expected to be completed on October 7, and the combined company's Class A common stock is expected to trade on Nasdaq under the ticker symbol XRPN starting October 8. The transaction and related private placements have raised over $1 billion, with investors including Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.

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