Evernorth Wins Shareholder Vote, Puts 473 Million XRP Near Nasdaq Listing

Evernorth Holdings Inc., a digital asset treasury company, has won approval from shareholders for its merger with Armada Acquisition Corp. II (Nasdaq: XRPN). The deal brings Evernorth closer to listing on the Nasdaq under the ticker XRPN and aims to provide investors with regulated and transparent exposure to XRP.

According to the agreement, the transaction will generate approximately $300 million in gross cash proceeds, including $225 million from private placements and $30 million in convertible note financing. The company plans to use these funds for general corporate purposes, such as token purchases and ecosystem activities.

Evernorth founder and CEO Asheesh Birla said, 'Going public will offer investors a regulated, transparent way to own XRP exposure and participate in the growth of the blockchain economy.'