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Evernorth completes SPAC merger with Armada Acquisition Corp. II, begins trading on Nasdaq as XRPNAI illustration
StableMarketsBusinessFinanceReported 2026-10-10 04:51

Evernorth completes SPAC merger with Armada Acquisition Corp. II, begins trading on Nasdaq as XRPN

Evernorth Holdings, Inc. completed its business combination with Armada Acquisition Corp. II, a special purpose acquisition company, and will begin trading on the Nasdaq Stock Market under the ticker XRPN on October 12, 2026. At closing, the company holds approximately 473 million XRP and raised about $300 million in gross cash proceeds before transaction expenses.

Why it matters. The transaction creates a publicly traded digital asset treasury focused on XRP, providing institutional investors with regulated exposure to the cryptocurrency while adding significant XRP holdings to the public market.

01

Who and what it touches

Arrington CapitalfinancesCitigroup Global Mark…servesSBI GroupownsArmada Acquisition Co…merges withBitGopartners withmarket conditionsdemand exposureregulatory changesregulatory exposureXRPprice exposureEvernorth

Into Evernorth

From Evernorth

Each line is a relation with evidence behind it, drawn in the direction it points. A line shows that two things are connected, not how far this change reaches.

02

Evidence

  • PPR Newswire news releasesCompany2026-10-10 04:51
    Evernorth has secured capital from a global group of institutional and digital asset investors, including Arrington Capital, SBI Group
    View source
  • GGDELT Global Knowledge GraphMedia2026-10-12 04:00
    View source