Evernorth Set for Nasdaq Debut With 473 Million XRP

Evernorth is scheduled to begin trading on Nasdaq under the ticker XRPN on October 8, following a shareholder-approved merger with Armada Acquisition Corp. II. The company holds 473 million XRP, a position that has seen its valuation drop by approximately $414 million since the deal was signed in October 2025 due to the decline in XRP's market price. The merger includes $300 million in cash, with plans to acquire additional XRP and pursue yield-generating strategies to increase the value of the underlying assets for shareholders.