{"id":7074801,"date":"2026-10-03T21:24:24","date_gmt":"2026-10-03T21:24:24","guid":{"rendered":"https:\/\/fivemor.com\/?p=7074801"},"modified":"2026-10-03T21:24:24","modified_gmt":"2026-10-03T21:24:24","slug":"ripple-news-evernorth-shareholder-vote","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7074801","title":{"rendered":"Ripple News: Evernorth Shareholder Vote"},"content":{"rendered":"


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In Ripple news, Armada Acquisition Corp. II shareholders approved the SPAC\u2019s merger with Evernorth at a September 30 meeting. The Ripple-backed XRP treasury company now expects the deal to close on October 7, with a Nasdaq debut under the ticker XRPN on October 8. Both dates remain subject to closing conditions.<\/p>\n

At closing, Evernorth expects to hold about 473 million XRP. With XRP trading near $1.54, up 2.8% on the day, that stake is worth roughly $727 million.
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Armada Acquisition Corp. II shareholders have approved the business combination with Evernorth. Thank you to every shareholder who voted, and to the XRP community that has followed every step.<\/p>\n

Expected next:<\/p>\n

Oct 7: Closing
Oct 8: Nasdaq trading under XRPN<\/p>\n

At closing, Evernorth\u2026 pic.twitter.com\/TyYEHx6suq<\/a><\/p>\n

\u2014 evernorthxrp (@evernorthxrp) October 1, 2026<\/a><\/p>\n<\/blockquote>\n

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Ripple News: Funding and Closing Conditions<\/h2>\n

The transaction is expected to generate approximately $300 million in gross cash proceeds before expenses. Evernorth\u2019s announcement breaks that estimate into $225 million from related private placements, $30 million of incremental convertible-note financing, and approximately $48 million from Armada II\u2019s trust proceeds; the components are approximate and should not be treated as a final proceeds figure.<\/p>\n

Investors have also contributed XRP in kind, with approximately 473 million XRP expected to be held by Evernorth at closing. The combined company is expected to operate as Evernorth Holdings, Inc., and its Class A shares are scheduled to begin trading on Nasdaq under the ticker symbol XRPN on October 8, subject to applicable listing requirements.<\/p>\n

\"A
A physical representation of the XRP cryptocurrency.<\/figcaption><\/figure>\n

The announcement said 100% of both advanced and delayed funders participated. The transaction\u2019s closing remains subject to satisfaction or waiver of the remaining conditions, so the approval vote does not establish that all financing has been completed or that the expected treasury balance is already in place.<\/p>\n

XRPN Nasdaq Listing: The Proposed Treasury Model<\/h2>\n

Armada II is a Nasdaq-listed special purpose acquisition company sponsored by Arrington XRP Capital Fund, LP, and was founded on October 3, 2024. Evernorth\u2019s named investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR, among others, according to the October 1 release.<\/p>\n

Ripple\u2019s stake is what ties this deal to wider Ripple news. \u00a0Evernorth says it intends to pursue strategies designed to increase XRP per share through yield strategies, participation in the XRP ecosystem, and capital markets activities.<\/p>\n

The company presents the structure as a regulated, liquid, and transparent way for investors to gain XRP exposure; that description is its stated proposition, not an independent assessment of the risks or likely returns.<\/p>\n

\u201cGoing public will offer investors a regulated, transparent way to own XRP exposure and participate in the growth of the blockchain economy,\u201d said Asheesh Birla, Evernorth\u2019s founder and chief executive officer. \u201cWe\u2019re grateful to our shareholders for their support as we complete this important transaction.\u201d<\/p>\n

DISCOVER:\u00a0Claude AI Predicts BTC Path as a $215K Scenario Takes Shape<\/a><\/strong><\/p>\n

XRP Treasury: Approval Is Not Yet Execution<\/h2>\n
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\ud83d\udea8 BREAKING: XRPN shareholders have APPROVED the Evernorth merger!<\/p>\n

\u2705 Business Combination: 20.51M For vs 1.36M Against
\u2705 SPAC Merger: approved
\u2705 Domestication to Delaware: approved
\u2705 All advisory proposals: approved<\/p>\n

\ud83d\udcca94% of votes cast were in favor, with 69% of shares\u2026 https:\/\/t.co\/1AP4qWCq7Z<\/a> pic.twitter.com\/bs0hgE8htq<\/a><\/p>\n

\u2014 \ud835\uddd5\ud835\uddee\ud835\uddfb\ud835\uddf8XRP (@BankXRP) October 1, 2026<\/a><\/p>\n<\/blockquote>\n

If completed, the business combination would bring a publicly traded company with a substantial, dedicated XRP treasury to Nasdaq. The XRPN listing and the company\u2019s ability to grow XRP per share through its proposed strategies remain prospective, rather than outcomes established by the shareholder vote.<\/p>\n

Evernorth\u2019s announcement also identifies risks that include delays to or failure of the transaction, an inability to meet listing standards, XRP price volatility, changes in laws and regulations, and challenges executing the company\u2019s strategy.<\/p>\n

The analytical question is no longer whether shareholders approved the deal; it is whether closing, funding, listing, and treasury deployment proceed on the expected terms.<\/p>\n

Market Intelligence: Crypto Security Analyst Recommends Best Anonymous Crypto Exchanges<\/a><\/strong><\/p>\n

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Disclaimer: <\/span>Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.<\/p>\n

\t\t\t\t\t\t\t\tWeb3 News<\/a>, XRP News<\/a><\/span>
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Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel leverages his background in on-chain analytics to author evidence-based reports and deep-dive guides. He holds certifications from The Blockchain Council, and is dedicated to providing “information gain” that cuts through market hype to find real-world blockchain utility.<\/p>\n<\/section>\n<\/article>\n<\/div>\n


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