Evernorth Clears Nasdaq Debut Hurdle with Shareholder Approval

Evernorth's path to becoming a publicly listed XRP treasury entity has reached another milestone. On October 1, Armada Acquisition Corp. II shareholders voted in favor of the proposed business combination with Evernorth.

This approval paves the way for the company to debut on the Nasdaq under the XRPN ticker symbol on October 8. The merger arrangement is expected to generate approximately $300 million in total gross cash.

Upon transaction completion, Evernorth's treasury will encompass around 473 million XRP tokens, representing roughly $710 million in value based on current market valuations. This position will establish the company as the largest publicly traded entity focused exclusively on XRP treasury management.