UPDATE: Armada II sets Evernorth closing for Oct. 7 ahead of Nasdaq debut
CIE News ·
Following shareholder approval, Evernorth detailed its $300M cash structure, major backers including Ripple, and an Oct. 8 Nasdaq listing with 473M XRP.
As previously reported, Armada Acquisition Corp. II shareholders voted to approve the business combination with crypto treasury firm Evernorth. According to PR Newswire, Armada II announced on October 1, 2026, that the shareholder vote concluded at an extraordinary general meeting on September 30, 2026, establishing a formal closing date of October 7, 2026. The combined company will list Class A common stock on Nasdaq under the ticker symbol XRPN starting October 8, 2026.
The transaction is structured to deliver roughly $300 million in gross cash proceeds before transaction fees, Armada II and Evernorth confirmed. This capital consists of $225 million via private placements, $30 million in incremental convertible notes, and around $48 million from trust proceeds, alongside in-kind XRP contributions. At closing, the firm expects to hold approximately 473 million XRP, backed by investors including Ripple, Pantera Capital, Arrington Capital, SBI Group, Kraken, and GSR.