Armada Acquisition Corp. II shareholders will vote September 30 on the merger with Evernorth Holdings aimed at listing on Nasdaq. The proposed structure would authorize up to 10 billion shares, allowing the XRP treasury company to raise capital to grow its holdings. Evernorth plans to enter the public market with over 473.3 million XRP and intends to increase XRP per share through capital raises, yield strategies and XRP ecosystem participation. This approach carries dilution risks and potential losses from lending, DeFi and unfavorable market conditions. Trading would occur under the ticker XRPN.
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