Evernorth, an XRP-focused treasury company, has officially completed its business combination with Armada Acquisition Corp. II, clearing the final major hurdle before its Nasdaq debut. The company will enter public markets holding approximately 473 million XRP tokens and around $300 million in gross cash proceeds. The transaction raised more than $1 billion from investors including Ripple, SBI Group, Panter Capital, GSR, and Arrington Capital, with the official Nasdaq listing scheduled for October 12. Evernorth positions itself as an actively managed XRP treasury, aiming to deploy capital throughout the XRP economy through institutional and DeFi yield strategies, ecosystem infrastructure, and on-chain credit markets.
Source: Read the original article
