Evernorth's shareholder vote on September 30 will decide whether the XRP-focused fund debuts on Nasdaq under ticker XRPN, holding 473M XRP and planning to raise $30M post-merger.
Regulation & Gov ·
Shareholders of Armada Acquisition Corp. II are scheduled to vote on September 30 on a business combination that would make Evernorth a publicly traded company trading under the XRPN ticker. Evernorth currently holds approximately 473 million XRP and positions itself as an active deployment vehicle rather than a passive fund, employing various strategies within the Ripple ecosystem.
The merger approval would unlock an additional $30 million in planned funding, contingent on the vote's outcome. Those proceeds are intended to support further XRP acquisitions and other activities aligned with the fund's investment thesis.
The September 30 shareholder vote represents the final major regulatory and governance gate before the fund could begin trading. What remains unclear is whether the vote will pass, the timeline for Nasdaq listing conditional on approval, and how quickly the additional capital would be deployed into XRP holdings or ecosystem activities.