Evernorth Merger Vote Scheduled for September 30

The proposed merger between Armada Acquisition Corp. II and Evernorth Holdings has moved closer to completion after the U.S. Securities and Exchange Commission declared its Form S-4 registration statement effective on August 27.

According to the definitive proxy materials, Armada shareholders of record on August 20 will vote at a special meeting scheduled for September 30. Investors seeking redemption must submit requests by September 28.

The effectiveness of the registration statement allows Evernorth's planned XRP treasury strategies to move forward, with the company aiming to deploy capital across various XRP-related infrastructure and lending markets.

Evernorth has secured commitments from several major players in the crypto industry, including Ripple, SBI Group, Arrington Capital, Pantera Capital, Kraken, and GSR. The combined company expects to list on Nasdaq under the ticker XRPN if shareholders approve the transaction.