Evernorth Closes SPAC Deal with Armada Acquisition Corp. II, Set to List on Nasdaq as "XRPN"
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Evernorth, an XRP treasury vehicle backed by Ripple, has completed its SPAC merger with Armada Acquisition Corp. II, bringing roughly 473M XRP plus $300M cash into a public-market structure ahead of a planned Nasdaq listing (XRPN). The transaction increases institutional visibility and creates a new equity-linked conduit for XRP exposure, which can affect near-term liquidity conditions and sentiment around XRP-related capital flows.
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Evernorth, an XRP treasury company backed by Ripple, has completed its business combination with SPAC Armada Acquisition Corp. II, according to Odaily Planet Daily. The transaction brings roughly 473 million XRP and $300 million in cash into the public market. Evernorth is expected to begin trading on Nasdaq under the ticker symbol "XRPN" next Monday. In a Form 8-K filed with the U.S. Securities and Exchange Commission, Evernorth said the merger was finalized on Oct. 9, Eastern Time.
