Evernorth Plans to Raise $30 Million with NH Investment & Securities Subscribing to Convertible Preferred PIK Notes

Evernorth has signed a note purchase agreement with NH Investment & Securities to issue convertible preferred PIK notes maturing in 2031 with an interest rate of 4%. The transaction is contingent upon the completion of a business combination with Armada Acquisition Corp. II, Pathfinder Digital Assets, and Ripple Labs, and is expected to close in the fourth quarter. The newly merged entity plans to list on NASDAQ under the XRPN code, pending exchange approval. Evernorth is an XRP treasury company.

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