Evernorth’s NASDAQ listing under XRPN awaits shareholder vote on September 30

Armada Acquisition Corp. II shareholders will cast their votes on September 30, 2026, deciding whether to approve a SPAC merger that would send Evernorth Holdings to the Nasdaq under ticker symbol XRPN. The SEC declared the Form S-4 registration statement effective on August 27, 2026, clearing the regulatory path for the special shareholder meeting. If the vote goes through and remaining closing conditions are met, the combined entity could begin trading in late Q3 or early Q4 of 2026. What Evernorth actually does Evernorth positions itself as a digital asset treasury company built specifically around XRP. The company plans to hold hundreds of millions of XRP tokens in its treasury, with active management strategies including lending, liquidity provision, and other yield-generating activities designed to increase the value of XRP per share over time. Evernorth has raised over $1B in gross proceeds and commitments from investors including Ripple and Arrington Capital. On the financing front, Evernorth disclosed a conditional $30 million deal involving PIK convertible notes due 2031. The notes are only issuable upon the merger’s completion. The SPAC route into public markets SPACs, o...