Evernorth Shareholders Approve $1 Billion XRP Treasury Deal Ahead of Nasdaq Listing
Shareholders of Armada Acquisition Corp. II have voted to approve the merger with Evernorth, a company planning to hold approximately 473 million XRP as a treasury asset. The approval clears the path for Evernorth to debut on the Nasdaq exchange.
Shareholders of Armada Acquisition Corp. II have formally approved the merger with Evernorth, a company structured around holding XRP as its primary treasury asset. The deal is valued at approximately $1 billion, and the shareholder vote represents a significant milestone in bringing the vehicle to public markets.
Following the approval, Evernorth is expected to hold roughly 473 million XRP, making it one of the largest publicly accountable XRP treasury positions once the company begins trading. The structure is broadly comparable to corporate treasury strategies seen in the Bitcoin space, now being applied to XRP.
The successful vote clears the remaining procedural path for Evernorth to debut on the Nasdaq. A public listing would give traditional investors direct equity exposure to a large XRP treasury without holding the asset directly, a format that has historically attracted institutional and retail capital alike.
Key facts
- •Armada Acquisition Corp. II shareholders approved the Evernorth merger
- •The deal is valued at approximately $1 billion
- •Evernorth expects to hold approximately 473 million XRP as treasury
- •Approval clears the path for a Nasdaq listing
- •The structure gives public market investors equity exposure to XRP holdings