Evernorth Shareholders Approve SPAC Merger, Nasdaq Listing Set for October 8

Shareholders of Armada Acquisition Corp. II have approved a merger with Evernorth, a company holding approximately 473.3 million XRP valued at roughly $710 million. The deal is expected to close on October 7, with shares set to begin trading on the Nasdaq under the ticker XRPN on October 8. This transaction is a SPAC merger rather than a traditional IPO, and investors in XRPN will hold equity in the company rather than direct ownership of XRP. The company's XRP holdings were primarily sourced from RippleWorks and other institutional backers, with only a portion acquired via open market purchases.