Evernorth Holdings has set September 30 for the shareholder vote on its planned merger with Armada Acquisition Corp. II, moving the XRP treasury company closer to a potential Nasdaq listing under the ticker XRPN.
The SEC declared Evernorth’s Form S-4 registration statement effective on August 27, clearing the way for Armada to proceed with the shareholder vote. The effectiveness does not constitute SEC approval of the merger, which still faces closing and exchange-listing conditions.
Armada Shareholders Will Vote Online on September 30
Armada shareholders of record as of August 20 are eligible to vote at the September 30 special meeting. Investors seeking to redeem their shares before the transaction must submit requests by September 28.
If shareholders approve the deal and other closing conditions are met, Evernorth expects the combination to close in late September or October. The resulting company would then seek to trade on Nasdaq under XRPN.
Armada first announced its merger agreement with Evernorth in October 2025 and amended the transaction earlier this month.
Evernorth Holds More Than 473M XRP Ahead of Merger
Evernorth held more than 473 million XRP as of December 31 after using advance funding from its financing arrangements to begin accumulating the token before the merger closes.
The original transaction was structured to generate more than $1 billion in gross proceeds, including capital from SBI Group, Ripple, Pantera Capital, Kraken and GSR.
Net proceeds are intended primarily for additional XRP purchases, along with working capital and transaction expenses.
September 30 Vote is Next Hurdle Before XRPN Nasdaq Listing
Evernorth plans to operate as an active XRP treasury, using strategies including institutional lending, liquidity provision and other capital markets activities rather than simply holding the token.
The September 30 shareholder vote is the next major transaction hurdle. Approval would allow Evernorth and Armada to move toward closing, after which the combined company would still need to satisfy Nasdaq listing requirements before XRPN could begin trading.
