Evernorth Completes Merger With Armada, Lists on Nasdaq With 473 Million XRP Holdings

On October 10, according to PR Newswire, digital asset treasury company Evernorth Holdings Inc. announced the completion of its business combination with Armada Acquisition Corp. II on October 9, 2026, with shares set to officially trade on Nasdaq under the ticker XRPN on October 12.

At its listing, the company holds approximately 473 million XRP and raised approximately $300 million in cash proceeds, with investors including institutions such as Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.

Positioned as an actively managed XRP treasury company, Evernorth plans to drive growth in the per-share value of XRP through institutional and DeFi yield strategies, ecosystem participation, and capital markets activities, while providing capital support for infrastructure such as on-chain credit markets and tokenized assets. The company is expected to ring the Nasdaq closing bell on October 14.