Evernorth Merger Clears Shareholder Vote Warrants Priced at $11.50

Armada Acquisition Corp. II (Nasdaq: XRPN), the special purpose acquisition company merging with Evernorth, has completed a key step in its process. On October 5, 2026, the company filed an 8-K with the SEC, revealing that shareholders had approved the business combination. The filing also disclosed a warrant amendment signed with Continental Stock Transfer & Trust, adjusting the Warrant Agreement to match the IPO prospectus.

The warrants will become exercisable on the later of the completion of the business combination or 12 months after the IPO closing. The exercise price is set at $11.50 per Class A share. The closing of the deal is expected on October 7, with trading under the ticker XRPN beginning on Nasdaq the following day.

Upon closing, Evernorth is expected to hold approximately 473 million XRP, positioning it as the largest publicly traded pure-play XRP treasury company. However, the completion of the deal remains subject to customary closing conditions, and trading is contingent on Nasdaq listing approval.