Evernorth clears shareholder vote and prepares Nasdaq debut of XRP treasury on Oct 8
Evernorth Holdings received shareholder approval for its merger with Armada Acquisition Corp. II, clearing the final hurdle before the combined entity begins trading on Nasdaq under the ticker XRPN on October 8, 2026. The company said it will hold roughly 473 million XRP after closing, and the transaction is expected to generate about $300 million in gross cash proceeds. The merger is slated to close on October 7, 2026, subject to customary conditions and Nasdaq acceptance.
Why it matters
The listing will give investors a regulated way to gain exposure to XRP through equity rather than direct token ownership, according to the company’s filing. The $300 million cash infusion and active‑management plan for the XRP treasury could affect the company’s balance sheet and future earnings potential, as noted by Evernorth’s management.
Key facts
- 1Armada Acquisition Corp. II shareholders approved the business combination on September 30, 2026. cryptonews.net
- 2Evernorth expects to own about 473 million XRP at closing. themarketperiodical.com
- 3The merger and related private placements total more than $1 billion. crowdfundinsider.com
- 4Gross cash proceeds from the deal are projected to be roughly $300 million before expenses. crowdfundinsider.com
- 5Closing of the transaction is targeted for October 7, 2026, after which shares will start trading on Nasdaq on October 8, 2026 under ticker XRPN. cryptonews.net
- 6The SEC declared the Form S‑4 registration statement effective on August 27, 2026. crowdfundinsider.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.