#EvernorthXRPTreasuryCompletesSPACMerger
Evernorth XRP Treasury Completes SPAC Merger
Evernorth Holdings is set to complete its SPAC merger with Armada Acquisition Corp. II, marking a major step toward becoming a publicly traded XRP treasury company. Armada shareholders approved the transaction on September 30, clearing the key shareholder hurdle. �
PR Newswire +1
The transaction is expected to close on October 7, 2026, with the combined company scheduled to begin trading on Nasdaq under the ticker XRPN on October 8, subject to the remaining closing conditions. �
PR Newswire
At closing, Evernorth expects to hold approximately 473 million XRP, which would make it the largest publicly traded pure-play XRP treasury company. The transaction and related private placements have raised more than $1 billion, while approximately $300 million is expected to come in gross cash proceeds before expenses. �
PR Newswire +1
The deal brings major crypto investors into the project, including Ripple, Pantera Capital, Kraken, SBI Group, GSR and Arrington Capital. Evernorth plans to use its treasury and capital-markets activities to increase XRP exposure per share over time. �
Decrypt
The Nasdaq debut could give traditional investors a regulated equity vehicle for gaining exposure to XRP, while also making Evernorth's stock performance closely tied to the volatile cryptocurrency's price. �
Decrypt$MSFTB $AAPLB
Evernorth XRP Treasury Completes SPAC Merger
Evernorth Holdings is set to complete its SPAC merger with Armada Acquisition Corp. II, marking a major step toward becoming a publicly traded XRP treasury company. Armada shareholders approved the transaction on September 30, clearing the key shareholder hurdle. �
PR Newswire +1
The transaction is expected to close on October 7, 2026, with the combined company scheduled to begin trading on Nasdaq under the ticker XRPN on October 8, subject to the remaining closing conditions. �
PR Newswire
At closing, Evernorth expects to hold approximately 473 million XRP, which would make it the largest publicly traded pure-play XRP treasury company. The transaction and related private placements have raised more than $1 billion, while approximately $300 million is expected to come in gross cash proceeds before expenses. �
PR Newswire +1
The deal brings major crypto investors into the project, including Ripple, Pantera Capital, Kraken, SBI Group, GSR and Arrington Capital. Evernorth plans to use its treasury and capital-markets activities to increase XRP exposure per share over time. �
Decrypt
The Nasdaq debut could give traditional investors a regulated equity vehicle for gaining exposure to XRP, while also making Evernorth's stock performance closely tied to the volatile cryptocurrency's price. �
Decrypt$MSFTB $AAPLB