Evernorth Holdings, Inc. and Armada Acquisition Corp. II said the SEC (U.S. securities regulator) has declared effective the Form S-4 registration statement for their proposed business combination. Armada shareholders of record as of August 20, 2026, are scheduled to vote at a special meeting on September 30, 2026. If approved and customary closing conditions are satisfied, the transaction is expected to close in late Q3 or early Q4 2026, with the combined company expected to list on Nasdaq under the ticker XRPN. Evernorth plans to hold and actively manage XRP, allocating capital to XRP-based infrastructure and using yield strategies, ecosystem participation and capital-markets activities designed to grow XRP per share over time. Its investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR, among others. Evernorth founder and CEO Asheesh Birla said the company aims to provide the transparency and governance public markets demand while accelerating XRP's role in institutional on-chain finance. Armada II is a special purpose acquisition company (SPAC, a listed vehicle created to merge with a private company) sponsored by Arrington XRP Capital Fund, LP. The companies said the transaction remains subject to risks and uncertainties described in the registration statement, and neither the SEC nor any state securities regulator has approved or disapproved the proposed transactions or passed on their merits or the adequacy of the disclosure.