Armada Acquisition Corp. II shareholders unanimously approved its business combination with Evernorth at a Sept. 30 extraordinary meeting, clearing a key condition for an expected Oct. 7 closing. The combined company, Evernorth Holdings, Inc., is expected to begin trading on Nasdaq under XRPN on Oct. 8, subject to remaining closing conditions; XRP itself will not be listed. Evernorth expects to hold about 473 million XRP at closing, valued at roughly $710 million when XRP traded near $1.50, and says it would become the largest publicly traded pure-play XRP treasury company. The transaction is expected to generate about $300 million in gross cash proceeds, including related private placements, convertible-note financing and Armada II trust funds, while investors have also contributed XRP directly. Backers include Ripple, Kraken, Pantera Capital, SBI Group, Arrington Capital and GSR. Evernorth plans to increase XRP held per share through yield strategies, XRP ecosystem participation and capital-markets activities.