Key Takeaways:
The AC of the Armada II shareholders has authorised the Evernorth enterprise mixture.At closing time, the stability of Evernorth of roughly 473 million XRP shall be retained.XRPN on Nasdaq buying and selling is anticipated to start on October 8.
Evernorth has come one step nearer to turning into a publicly traded asset administration firm centered on the XRP treasury following an approval from shareholders of Armada Acquisition Corp. II.
The deal is anticipated to shut on October 7, with the mixed firm focusing on a Nasdaq debut the next day beneath the ticker XRPN, topic to remaining closing circumstances and itemizing approval.
Armada Acquisition Corp. II shareholders have authorised the enterprise mixture with Evernorth. Thanks to each shareholder who voted, and to the XRP group that has adopted each step.
Anticipated subsequent:
Oct 7: ClosingOct 8: Nasdaq buying and selling beneath XRPN
At closing, Evernorth expects to carry roughly 473 million XRP, making it the most important publicly traded pure-play XRP treasury firm. Completion stays topic to customary closing circumstances, and buying and selling is topic to Nasdaq itemizing approval.
Full launch: https://t.co/aWUJwUPHQ2
This content material is for informational functions solely and doesn’t represent funding recommendation. This content material might include forward-looking statements that contain dangers and uncertainties; precise outcomes might differ materially. Digital belongings contain threat, together with potential lack of principal. Study extra about Evernorth: https://t.co/sqMogIjc8O.
— evernorthxrp (@evernorthxrp) October 1, 2026
Evernorth Targets 473M XRP Treasury at Closing
Evernorth is holding about 473 million XRP at completion, which it claims would create an enormous, publicly traded pure-play XRP enterprise.
The overall gross money proceeds, earlier than bills, shall be roughly $300 million.
This contains roughly $225 million in associated personal placements, $30 million in convertible observe financing, and roughly $48 million in financing from Armada II’s belief account.
Traders have additionally fundee the transaction with XRP, serving to the corporate plan their digital asset holdings.
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Extra Than $1B Raised Throughout the Deal
The overall proceeds of the transaction and the accompanying personal placements are over $1 billion, Evernorth mentioned. It has a lot of traders amongst that are such corporations as Ripple, Kraken, The SBI Group, GSR, and Arrington Capital.
Moreover, the corporate acknowledged all superior and delayed funders are nonetheless on board with the transaction, to assist the transaction’s anticipated closing.
XRPN Buying and selling May Start October 8
All different circumstances and covenants should be met and all circumstances should be waived for the closing of the enterprise mixture to happen on October 7. In consequence, this merger will end in a brand new holding firm known as Ever-North Holdings, Inc.
It can begin buying and selling its class A standard inventory on Nasdaq on October 8 beneath the image XRPN.
The itemizing would supply public-market traders with entry to an organization centered largely on XRP and never on a number of digital belongings in its treasure chest.
The traders wouldn’t be holding the XRP instantly, however as an alternative the inventory of Evernorth, which might depend upon the capital construction, working technique and execution of Evernorth as effectively.
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Evernorth Plans to Develop XRP Per Share
Sooner or later, Evernorth will increase its XRP staking program incrementally by way of yield methods, in addition to ecosystem involvement and capital markets operations.
The corporate’s stance is seen as an lively digital asset treasury and never a passive holder. It can probably spend money on alternatives throughout the XRP ecosystem and hold XRP as its driving asset, on its stability sheet.
The shareholder approval will put one final hurdle out of the way in which earlier than the itemizing, however closing will depend upon the same old closing necessities and Nasdaq approval.
