Evernorth finishes Armada II merger with 473M XRP treasury
CIE News ·
Evernorth Holdings and Armada Acquisition Corp. II completed their merger on October 7, 2026, launching Nasdaq trading under XRPN with an estimated 473 million XRP treasury.
Evernorth Holdings and Armada Acquisition Corp. II finalized their business combination on October 7, 2026. The deal allows Evernorth Class A common stock to start trading on the Nasdaq under the ticker XRPN on October 8, 2026, according to a press release distributed by PR Newswire.
The transaction generated roughly $300 million in gross proceeds before expenses, PR Newswire reported. That total included $225 million via private placements, $30 million from convertible notes, $48 million in trust proceeds, and in-kind crypto contributions.
The combined company holds about 473 million XRP in its corporate treasury, cryptoticker.io reported based on regulatory filings. Investors in the transaction include Ripple, Pantera Capital, Kraken, Arrington Capital, and SBI Group.