Evernorth XRP Treasury Clears Shareholder Vote, Awaits October Closing

Evernorth, a company that will hold a significant amount of XRP, has cleared a major hurdle after Armada Acquisition Corp. II shareholders approved the proposed business combination at a recent meeting. The deal is expected to close on October 7, with the combined company, Evernorth Holdings, Inc., beginning trading on Nasdaq under the ticker XRPN on October 8.

The expected 473 million XRP balance at closing would make Evernorth the largest publicly traded pure-play XRP treasury company, according to the company. However, this balance and market position remain prospective until the transaction closes.

Evernorth's CEO, Asheesh Birla, framed the public listing as a market-based route to XRP exposure, saying, 'Going public will offer investors a regulated, transparent way to own XRP exposure and participate in the growth of the blockchain economy.'