Armada Shareholders Approve Evernorth Merger

Armada Acquisition Corp. II shareholders approved the proposed business combination with Evernorth at a September 30 meeting, advancing the XRP treasury company’s plan to become publicly traded on Nasdaq. The vote clears a major step but does not complete the merger, which remains subject to closing and listing requirements. Evernorth said the transaction is expected to close on October 7, with the combined company’s Class A shares targeted to begin trading on October 8 under the ticker XRPN. Those dates remain conditional; the shareholder vote does not guarantee that the closing or trading debut will occur on schedule. At closing, Evernorth expects to hold about 473 million XRP, including tokens contributed directly by investors. The company describes that projected balance as making it the largest publicly traded pure-play XRP treasury. The figure is a company projection for the combined business at closing, not a final reported balance or evidence that all of the tokens were bought on the market. The transaction and related fundraising are expected to generate about $300 million in gross cash proceeds before expenses.