Evernorth Secures Largest Public XRP Treasury Position After Armada Shareholder Approval

Armada Acquisition Corp. II shareholders have approved the proposed business combination with Evernorth, paving the way for a significant deal in the XRP space.

The agreement is expected to raise approximately $300 million in gross cash proceeds and has also attracted contributions of XRP from investors.

Upon completion, Evernorth is set to hold about 473 million XRP, making it the largest publicly traded pure-play XRP treasury company.

The transaction is anticipated to close on October 7, subject to remaining conditions, and the combined entity will commence trading on Nasdaq under 'XRPN' on October 8.