Shareholders Approve Evernorth Business Combination; Transaction and Related Private Placements Have Raised Over $1 Billion; Nasdaq Trading Under "XRPN" Expected to Begin on October 8

Shareholders Approve Evernorth Business Combination; Transaction and Related Private Placements Have Raised Over $1 Billion; Nasdaq Trading Under "XRPN" Expected to Begin on October 8 PR Newswire

* Armada II shareholders approved the business combination with Evernorth at the extraordinary general meeting on September 30, 2026 * Transaction expected to raise approximately $300 million in gross cash proceeds * Investors have also contributed XRP in kind; at closing, Evernorth expected to become the largest publicly traded pure-play XRP treasury company, with approximately 473 million XRP * Investor support for transaction unwavering; 100% of advanced and delayed funders participating * Business combination expected to close October 7, 2026, with trading on Nasdaq under the ticker "XRPN" expected to begin October 8, 2026 SAN FRANCISCO, Oct. 1, 2026 /PRNewswire/ -- Evernorth Holdings, Inc. ("Evernorth") and Armada Acquisition Corp. II (Nasdaq: XRPN) ("Armada II") today announced that Armada II shareholders approved the proposed business combination between the two companies at Armada II's extraordinary general meeting held on September 30, 2026. The business combination is expected to raise approximately $300 million in gross cash proceeds, including $225 million from related private placements, $30 million of incremental convertible note financing, and approximately $48 million of trust proceeds, before transaction expenses. Investors have also contributed XRP in kind. At closing, Evernorth is expected to hold approximately 473 million XRP, which would make it the largest publicly traded pure-play XRP treasury company.