Evernorth Clears Shareholder Vote for $1B XRP Treasury Listing

Evernorth Holdings has secured shareholder approval for its combination with Armada Acquisition Corp. II, clearing a major condition for one of the largest XRP-focused corporate treasury listings to reach the U.S. public market.

The combined company is expected to hold approximately 473 million XRP at closing, with its Class A shares scheduled to begin Nasdaq trading under XRPN on Oct. 8, subject to remaining closing conditions.

The $1 billion raise does not equal $1 billion in buying power. The financing behind Evernorth requires a closer look because the headline amount combines different forms of capital.