NH Investment & Securities Commits $30 Million to Evernorth's XRP Treasury
NH Investment & Securities has committed $30 million to Evernorth's XRP treasury, but the real test is still the September 30 shareholder vote that decides whether the XRP treasury company reaches Nasdaq.
Evernorth Holdings added a Korean institutional name to its XRP treasury pitch with a note purchase agreement from NH Investment & Securities. The $30 million notes carry 4% payment-in-kind interest and mature in 2031, but only close if Evernorth completes its business combination with Armada Acquisition Corp. II.
Evernorth plans to use the net proceeds for general corporate purposes, including buying XRP and other activity in the XRP ecosystem. The company is not promising a single mechanical spot purchase with every dollar, but building a treasury business around the token.