Evernorth’s Shareholders Approved the XRPN Merger;…
By Damilola Esebame
AI summary of the source article
Armada Acquisition Corp. II shareholders approved a merger with Evernorth Holdings on 30 September, setting up the launch of an actively managed XRP treasury on Nasdaq under the ticker XRPN. The transaction is scheduled to close on 7 October, with trading expected to begin on 8 October pending Nasdaq approval and closing conditions. Evernorth expects to hold 473,276,430 XRP at closing, supported by token contributions from Ripple and Arrington Capital alongside open purchases. Total capital raised exceeded $1 billion in gross proceeds and commitments from backers including Ripple, SBI Group, Pantera Capital, Kraken, and GSR.
Why it matters
The deal advances plans to bring an actively managed corporate treasury holding over 473 million XRP onto a major US stock exchange.
Key facts
- Armada Acquisition Corp. II shareholders approved the merger with Evernorth Holdings on 30 September.
- Evernorth expects to hold 473,276,430 XRP at closing, aiming to trade on Nasdaq under ticker XRPN.
- Total capital raised exceeded $1 billion in gross proceeds and commitments from institutional backers.