Armada Acquisition II Shareholders Approve Evernorth Business Combination

09:27 AM EDT, 10/01/2026 (MT Newswires) -- Armada Acquisition II (XRPN) shareholders have approved the proposed business combination with Evernorth at a special meeting held on Wednesday, the companies said Thursday. At closing, Evernorth is expected to hold about 473 million XRP and become the largest publicly traded pure-play XRP treasury company, the companies said. The transaction is expected to raise $300 million in gross cash proceeds and close on Oct. 7, the companies added. Evernorth's Class A common stock is expected to start trading on Nasdaq under the ticker "XRPN" on Oct. 8. Armada Acquisition II shares were down 2.5% in recent Thursday premarket activity.