Evernorth completes merger with 473m XRP ahead of Nasdaq debut

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Evernorth has completed its merger with Armada Acquisition Corp. II, holding approximately 473 million XRP and raising about $300 million in gross cash proceeds ahead of its expected Oct. 12 Nasdaq ...

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One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.itiger.com/news/2674949688"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2674949688\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2674949688?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-10-10 18:41","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2674949688","market":"us","top_or_hot":-1,"title":"Evernorth completes merger with 473m XRP ahead of Nasdaq debut","media":"cryptonews","content":"<div>\n<p>Evernorth has completed its merger with Armada Acquisition Corp. II, holding approximately 473 million XRP and raising about $300 million in gross cash proceeds ahead of its expected Oct. 12 Nasdaq ...</p>\n\n<a href=\"https://crypto.news/evernorth-completes-merger-with-473m-xrp-nasdaq-debut/\">Source Link</a>\n\n</div>\n","source":"crypto_news_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Evernorth completes merger with 473m XRP ahead of Nasdaq debut</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEvernorth completes merger with 473m XRP ahead of Nasdaq debut\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-10-10 18:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/evernorth-completes-merger-with-473m-xrp-nasdaq-debut/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Evernorth has completed its merger with Armada Acquisition Corp. II, holding approximately 473 million XRP and raising about $300 million in gross cash proceeds ahead of its expected Oct. 12 Nasdaq ...</p>\n\n<a href=\"https://crypto.news/evernorth-completes-merger-with-473m-xrp-nasdaq-debut/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XRPT","symbol_name":"2倍杠杆XRP ETF-Volatility Shares","start_time":0,"source_url":"https://crypto.news/evernorth-completes-merger-with-473m-xrp-nasdaq-debut/","article_id":"2674949688","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/evernorth-completes-merger-with-473m-xrp-nasdaq-debut/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2674949688","pubTimestamp":1791628919,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Evernorth has completed its merger with Armada Acquisition Corp. II, holding approximately 473 million XRP and raising about $300 million in gross cash proceeds ahead of its expected Oct. 12 Nasdaq trading debut.473 million XRP formed Evernorth’s treasury at closing, alongside approximately $300 million in gross cash proceeds.Evernorth plans to deploy capital into XRP infrastructure and pursue strategies to increase XRP per share.Evernorth announced on Oct. 9 that it had closed the business combination, bringing its XRP treasury and related investment plans into a public-company structure. The company said the approximately $300 million cash figure was measured before transaction expenses, with capital supplied by institutional and digital-asset investors.According to the announcement, its backers include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR. Armada, the merger partner, was a special purpose acquisition company sponsored by Arrington XRP Capital Fund, L","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"XRPT":"2倍杠杆XRP ETF-Volatility Shares","LCLG":"Logan Capital Broad Innovative Growth ETF","XRPC":"Canary XRP ETF","TLTW":"iShares 20+ Year Treasury Bond Buywrite Strategy ETF","XRPZ":"Franklin XRP ETF","TOXR":"21shares XRP ETF","TLT":"20+年以上美国国债ETF-iShares","TMF":"3倍做多20年期以上国债ETF-Direxion","XRPK":"T-REX 2x Long XRP Daily Target ETF","XXRP":"2倍做多XRP ETF-Teucrium","BITW":"Bitwise 10 Crypto Index ETF","IPOS":"Renaissance International IPO ETF","UXRP":"Proshares Ultra XRP ETF","XRP":"Bitwise XRP ETF","XRPR":"REX-OSPREY XRP ETF","XRPI":"1倍XRP ETF-Volatility Shares"},"translate_title":"Evernorth 在纳斯达克首次亮相之前完成与 4.73M XRP 的合并","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XRP":1.5,"NQmain":1.5,"XXRP":1.5,"XRPI":1.5,"BITW":1.5,"XRPC":1.5,"IPOS":1.5,"XRPZ":1.5,"UXRP":1.5,"US3Y.BOND":0.9,"US6M.BOND":0.9,"US30Y.BOND":0.9,"US2Y.BOND":0.9,"US7Y.BOND":0.9,"TLT":0.6,"TLTW":0.6,"XRPT":1.5,"XRPR":0.6,"TMF":0.6,"LCLG":1.5,"US10Y.BOND":0.9,"XRPK":0.6,"US5Y.BOND":0.9,"TOXR":1.5,"US12M.BOND":0.9},"content_text":"Evernorth has completed its merger with Armada Acquisition Corp. II, holding approximately 473 million XRP and raising about $300 million in gross cash proceeds ahead of its expected Oct. 12 Nasdaq trading debut.\n\n\nSummary\n\n\n\n473 million XRP formed Evernorth’s treasury at closing, alongside approximately $300 million in gross cash proceeds.\nXRPN shares are expected to begin Nasdaq trading on Oct. 12 following the completed merger.\nEvernorth plans to deploy capital into XRP infrastructure and pursue strategies to increase XRP per share.\nArmada shareholders approved the transaction on Sep. 30, before an administrative delay changed the listing schedule.\n\n\n\nEvernorth announced on Oct. 9 that it had closed the business combination, bringing its XRP treasury and related investment plans into a public-company structure. The company said the approximately $300 million cash figure was measured before transaction expenses, with capital supplied by institutional and digital-asset investors.\nAccording to the announcement, its backers include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR. Armada, the merger partner, was a special purpose acquisition company sponsored by Arrington XRP Capital Fund, LP.\nEvernorth closes merger after Nasdaq timetable changes\nIn its closing filing, Evernorth confirmed that the transaction was completed under the business combination agreement signed on Oct. 19, 2025, and amended on Aug. 12, 2026. The agreement involved Evernorth, Pathfinder Digital Assets, Ripple, Armada, and two merger subsidiaries.\nUnder the transaction mechanics described in the Form 8-K, Pathfinder and the former Armada entity became wholly owned subsidiaries of Evernorth. The filing also records Armada’s move from the Cayman Islands to Delaware on Oct. 8, when it adopted the name Arrington Capital SPAC I Inc.\nThe closing followed Armada shareholders’ approval at their Sep. 30 extraordinary general meeting, according to the company’s disclosures. Evernorth had initially scheduled the merger closing for Oct. 7 and the start of Nasdaq trading for Oct. 8.\nAs crypto.news reported on Oct. 7, the company delayed its Nasdaq debut after an administrative issue changed the schedule. In its Oct. 6 update, Evernorth said the issue was not expected to prevent completion and set Oct. 9 as the revised closing date.\nWith the merger now completed, the closing announcement retains Oct. 12 as the expected first trading day for Evernorth common stock under XRPN. The company also expects its leadership, investors and XRP ecosystem participants to attend a Nasdaq closing-bell ceremony on Oct. 14.\nXRP treasury combines purchases and contributed tokens\nEvernorth’s closing announcement places its holdings at approximately 473 million XRP. Earlier transaction documents show that the treasury was assembled through several routes, including cash purchases and contributions from parties supporting the merger.\nA Sep. 30 examination of the XRP treasury’s composition detailed a projected closing balance of at least 473,276,430 XRP under the definitive proxy’s assumptions. The disclosed components included 126,791,458 XRP contributed by Ripple and approximately 211.32 million XRP associated with the sponsor.\nAccording to those proxy disclosures, a separate related-party contribution accounted for 50 million XRP, while advance and delayed funding arrangements included another 800,000 tokens. The documents also identified approximately 84.37 million XRP purchased for $214 million.\nThe earlier report placed that purchase’s average price at about $2.53657 per token. Its review distinguished the documented cash acquisition from the contributed holdings, rather than applying the purchase price to every XRP in the planned treasury.\nFor U.S. stock-market investors, the same proxy-based analysis described XRPN as ownership of corporate equity. The company owns the XRP treasury; shareholders do not receive a direct redemption right for a specified number of tokens.\nAccording to that analysis, the exposure behind each share also depends on outstanding shares, liabilities, financing, and transaction costs. The proxy separately addressed warrants and other securities, alongside the expected XRP balance.\nEvernorth plans to put XRP capital into institutional services\nIn the closing announcement, founder and CEO Asheesh Birla said Evernorth would actively manage its treasury and support infrastructure and uses for XRP. He described increasing the number of XRP held per share as a goal of the company’s treasury strategy.\nBirla said:\n\n“We’ll be deploying capital across the XRP economy, supporting the infrastructure and use cases that expand XRP’s utility”\n\nThe company’s earlier SEC-filed announcement identified tokenized assets, onchain credit markets and settlement infrastructure as areas where it intended to supply capital. In that disclosure, Evernorth said its model would combine XRP holdings with investment in infrastructure, rather than rely solely on purchasing and holding tokens.\nAccording to its company description, Evernorth also plans to pursue institutional and decentralized-finance yield strategies, ecosystem participation and capital-market activities. Its disclosures present those activities as planned strategies for growing XRP per share.\nWithin the SEC-filed announcement, Evernorth said it intended to operate with the reporting, governance and disclosure standards of a Nasdaq-listed company. The filing also states that the SEC’s declaration of registration-statement effectiveness did not constitute approval of the transaction’s investment merits.\nConvertible financing includes XRP purchases among permitted uses\nBefore the shareholder vote, Evernorth agreed to issue convertible debt worth $30 million, as reported on Sep. 21. The disclosed agreement tied issuance and payment for the notes to completion of the business combination.\nAccording to the financing documents, proceeds could support general corporate purposes, including additional XRP purchases and activities within the XRP ecosystem. The permitted uses did not commit the full financing amount to direct token purchases.\nThe agreement named NH Investment & Securities as trustee for Kyobo AIM Corporate Finance General Private Investment Trust No. 3, the purchaser. Under the disclosed terms, the senior unsecured notes carry a 4% annual payment-in-kind interest rate, with interest added to principal rather than paid regularly in cash.\nThe financing documents provide for semiannual compounding and maturity in 2031, unless the notes are converted, redeemed, or repurchased earlier. Holders receive conversion rights beginning one year after the effectiveness date, at an initial rate equivalent to approximately $10.20 per Evernorth Class A share.\n\n\n\n\n\n                Read more:\n            \n\n                Worldcoin price flips bullish: Can WLD clear $0.61?","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"corporation,merge","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}