Evernorth completes SPAC merger with 473 million XRP
CIE News ·
Evernorth Holdings finalized its combination with Armada Acquisition Corp. II, securing roughly $300 million in gross proceeds and bringing its balance sheet to approximately $962 million in assets.
Evernorth Holdings, Inc. completed its business combination with Armada Acquisition Corp. II on October 9, 2026, securing approximately $300 million in gross cash proceeds before transaction costs. The digital asset treasury company entered the public sphere holding roughly 473 million XRP, yielding approximately $962 million in total balance-sheet assets. Its common stock is scheduled to start trading on the Nasdaq Stock Market on October 12, 2026, under the ticker XRPN.
Capital for the company was provided by institutional and digital asset investors, including Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR. Armada, which was sponsored by Arrington XRP Capital Fund, LP, had its shareholders approve the deal on September 30, 2026, after which it moved from the Cayman Islands to Delaware on October 8, 2026, according to crypto.news.
Evernorth stated via PR Newswire that it plans to deploy capital across the XRP economy and participate in yield strategies. Company representatives and ecosystem participants are scheduled to ring the Nasdaq closing bell on October 14, 2026.