Evernorth Clears Shareholder Vote Ahead Of XRPN Nasdaq Debut
Summary
Armada Acquisition Corp. II shareholders approved its business combination with Evernorth on September 30. The deal is expected to close October 7, with the merged company potentially beginning Nasdaq trading as XRPN on October 8, pending remaining conditions. Evernorth says the transaction and related private placements total more than $1 billion in cash and contributed XRP; the merger is expected to provide about $300 million in gross cash proceeds. At closing, it expects to hold roughly 473 million XRP and plans to use XRP in institutional lending, liquidity provision and other XRP Ledger activity. Shareholder approval advances the deal but does not mean the shares are already trading.
