Evernorth shareholders approved the company's business combination with Armada Acquisition Corp. II on September 30, clearing the final major step before an expected October 7, 2026, closing. Subject to remaining closing conditions, the combined company plans to begin trading on Nasdaq on October 8 under the ticker XRPN. Evernorth says it will hold 473 million XRP, describing the reserve as the largest legally held XRP pool among publicly traded companies worldwide. The transaction attracted more than $1 billion in combined investments, with Ripple, SBI Group, Pantera Capital and Kraken among its anchor investors. Rather than hold the tokens passively, Evernorth plans to deploy XRP in decentralized finance and arbitrage strategies. Existing transaction estimates include about $300 million in gross cash proceeds, comprising $225 million from related private placements, $30 million from convertible notes and roughly $48 million from Armada II's trust.