Armada Acquisition Corp. II shareholders permitted the proposed enterprise mixture with Evernorth at a September 30, 2026, extraordinary assembly, clearing a significant hurdle for the deliberate public itemizing. The information is awaiting a deal anticipated to shut on October 7, with Nasdaq buying and selling below XRPN anticipated to start on October 8; Evernorth expects to carry roughly 473 million XRP at closing.
The shareholder vote removes a central transaction situation. The October 1 announcement from Evernorth and Armada II says the enterprise mixture stays topic to satisfaction or waiver of its remaining closing circumstances.
Armada Acquisition Corp. II shareholders have permitted the enterprise mixture with Evernorth. Thanks to each shareholder who voted, and to the XRP group that has adopted each step.
Anticipated subsequent:
Oct 7: Closing
Oct 8: Nasdaq buying and selling below XRPN
At closing, Evernorth… pic.twitter.com/TyYEHx6suq— evernorthxrp (@evernorthxrp) October 1, 2026
The roughly $300 million determine refers to gross money proceeds earlier than transaction bills. At closing, Evernorth expects to carry roughly 473 million XRP. The corporate says that the steadiness would make it the most important publicly traded pure-play XRP treasury firm, however each the holding and that market place stay potential till the transaction closes.
Evernorth says 100% of superior and delayed funders are taking part. Its named buyers embody Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR. The corporate’s deliberate public-market construction additionally sits inside a broader ecosystem the place institutional monetary infrastructure is creating on the XRP Ledger.
Asheesh Birla, Evernorth’s founder and CEO, framed the general public itemizing as a market-based path to XRP publicity. “Going public will supply buyers a regulated, clear strategy to personal XRP publicity and take part within the progress of the blockchain economic system,” Birla stated.
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XRPN Would Provide Fairness Publicity
Evernorth is meant to change into a publicly traded digital asset treasury providing publicity to XRP by way of a construction the corporate describes as regulated, liquid, and clear. Its said plan is to pursue methods geared toward rising XRP per share by way of yield methods, ecosystem participation, and capital markets exercise.
XRPN shares would symbolize fairness within the mixed firm relatively than direct possession of XRP. The anticipated 473 million XRP steadiness would additionally transfer in greenback phrases as XRP’s market worth adjustments; XRP provide dynamics are one issue buyers could observe when assessing the treasury’s market publicity.
Armada II is a Nasdaq-listed particular function acquisition firm sponsored by Arrington XRP Capital Fund, LP. The businesses’ announcement additionally flags dangers round XRP volatility, shareholder redemptions, regulatory adjustments, assembly itemizing requirements, and Evernorth’s potential to execute its treasury methods.
The SEC’s effectiveness in reviewing the registration assertion enabled the transaction course of to proceed; the discharge says the SEC didn’t approve or disapprove the deal’s deserves or equity.
The ecosystem technique can be contingent on execution, not simply treasury measurement. Developments reminiscent of XRPL lending governance present context for exercise across the community, however don’t set up that Evernorth will generate yield or enhance XRP per share.
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XRP Awaits Information on Conditional October Itemizing Dates
Xrp (XRP)24h7d30d1yAll time
The subsequent said milestone is the anticipated October 7 closing, topic to the remaining circumstances being happy or waived. If the transaction closes, the mixed firm is predicted to function as Evernorth Holdings, Inc., with its Class A standard inventory deliberate to start buying and selling on Nasdaq below XRPN on October 8.
These dates are targets, not accomplished occasions. The corporate’s threat disclosures embody the chance that closing circumstances or financing aren’t accomplished, that the mixed firm fails to fulfill Nasdaq itemizing requirements, that redemptions have an effect on the general public float, or that XRP worth strikes and regulatory adjustments alter the economics of the treasury.
The shareholder vote advances the transaction; the closing and first buying and selling periods’ information will decide whether or not the deliberate XRP treasury reaches public markets on schedule.
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