Key Takeaways
Evernorth Holdings finalized its merger with Armada Acquisition Corp. II and prepares for a Nasdaq debut under the ticker XRPN with 473 million XRP.
According to BlockchainReporter, Evernorth Holdings has finalized its business combination with Armada Acquisition Corp. II. The company enters the public markets with a treasury of approximately 473 million XRP and about $300 million in gross cash proceeds, following an announcement on Oct. 9.
The combined company's common stock is scheduled to begin trading on the Nasdaq under the ticker XRPN on Monday, Oct. 12. This closing establishes Evernorth as one of the largest publicly traded XRP treasuries, providing regulated and transparent exposure to the token. Founder and Chief Executive Officer Asheesh Birla stated that the firm intends to deploy capital across the XRP economy to support infrastructure and utility.
At closing, Evernorth secured backing from Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR. Armada Acquisition Corp. II operated as a special-purpose acquisition company sponsored by Arrington XRP Capital Fund. Evernorth cleared its final SEC hurdle in August when its Form S-4 registration was declared effective, followed by Armada shareholder approval on Sept. 30.
The listing experienced a minor administrative delay, shifting the schedule from an earlier October target, though the transaction completion remained unaffected.
Source & Fact-Check Note
https://blockchainreporter.net/evernorth-completes-armada-merger-nasdaq-listing/
