Evernorth Completes Business Combination with Armada Acquisition Corp. II
PR Newswire•09/10/2026•16:51 ET
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Key Highlights
- ➤Business combination with Armada Acquisition Corp. II completed October 9, 2026
- ➤Evernorth holds approximately 473 million XRP at closing
- ➤Evernorth raised approximately $300 million in gross cash proceeds
- ➤Shares expected to begin Nasdaq trading October 12 under ticker XRPN
- ➤Company plans capital deployment across XRP economy and strategies to grow XRP per share
Expert Statements
Asheesh Birla, Founder and Chief Executive Officer of Evernorth
“In setting out to build Evernorth, our goal was to create something unique: an actively managed XRP treasury purpose-built to support the growth of the ecosystem with the transparency and governance that public markets demand”
Asheesh Birla, Founder and Chief Executive Officer of Evernorth
“Completing this transaction today marks a significant milestone of bringing this company to market. We'll be deploying capital across the XRP economy, supporting the infrastructure and use cases that expand XRP's utility, and pursuing strategies designed to grow XRP per share over time.”
Michael Arrington, Founder of Arrington Capital
“Our conviction in XRP has always been rooted in the belief that the ecosystem would continue to mature, attracting serious builders and capital”
Michael Arrington, Founder of Arrington Capital
“Our support for Evernorth is a natural extension of that thesis. It brings scaled capital, active participation and the standards of a public company, playing a critical role in the institutional development of this infrastructure.”
Evernorth Completes Business Combination with Armada Acquisition Corp. II PR Newswire
Company enters the public markets holding approximately 473 million XRP and approximately $300 million in gross cash proceeds; shares to begin trading on Nasdaq on October 12, 2026 under the ticker XRPN
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