Evernorth Holdings shareholders approved the company’s merger with Armada Acquisition II, a SPAC (special purpose acquisition company) transaction designed to support Evernorth’s strategic XRP accumulation plan. If the remaining conditions are satisfied or waived, the merger is scheduled to close on Oct. 7, followed by Nasdaq trading for the combined company under the ticker XRPN on Oct. 8. The deal is expected to generate about $300 million in cash, comprising $225 million from private investment, $30 million in additional convertible note financing and approximately $48 million held in trust. Investors also contributed XRP in kind, and Evernorth’s holdings are expected to reach about 473 million XRP after closing.