Evernorth confirms as XRP Is All Set to Move to Nasdaq in a Big Way

Evernorth’s 473M XRP Treasury Moves Closer to Nasdaq After Merger Approval.

Evernorth’s planned Nasdaq debut has moved another step forward after shareholders of Armada Acquisition Corp. II approved the proposed business combination. The deal closes, as the XRP-focused treasury company is expected to trade under the ticker XRPN while holding at least 473.27 million XRP.

Evernorth confirms that shareholders have approved the business combination with Evernorth.

Evernorth says, expected next: Oct 7: Closing; Oct 8: Nasdaq trading under XRPN.

Armada Acquisition Corp. II shareholders have approved the business combination with Evernorth. Thank you to every shareholder who voted, and to the XRP community that has followed every step.

Expected next:

Oct 7: Closing
Oct 8: Nasdaq trading under XRPN

At closing, Evernorth… pic.twitter.com/TyYEHx6suq

— evernorthxrp (@evernorthxrp) October 1, 2026

Evernorth Plans to Hold More Than 473M XRP

SEC filings show Evernorth expects to have at least 473,276,430 XRP when the transaction closes.

That amount should not be treated as a single 473 million XRP market purchase.

The planned treasury includes about 126.79 million XRP from Ripple, another 211.32 million XRP tied to a Series C subscription, and 50 million XRP from another related-party contribution, alongside other commitments.

Evernorth has also made direct market purchases. The company bought approximately 84.37 million XRP for $214 million, paying an average of about $2.54 per token.

The mix means Evernorth’s final XRP position will consist of both purchased XRP and tokens supplied through contribution and financing arrangements connected to the deal.

What XRPN Would Bring to Nasdaq

Evernorth now intends to list on Nasdaq under XRPN.

The company’s strategy is broader than simply storing XRP on its balance sheet. Evernorth plans to use part of its treasury across yield strategies, XRP infrastructure, and capital-market activity, with the stated aim of increasing XRP exposure per share over time.

This would give traditional-market investors access to an XRP-focused public company without directly holding the asset themselves.

Still, owning XRPN shares would not be the same as holding XRP. The stock’s value would also depend on Evernorth’s capital structure, financing, operating costs, liabilities, and how effectively it manages its treasury.

$30M Note Could Add More XRP Firepower

Evernorth has separately arranged a $30 million 4% convertible senior payment-in-kind note due in 2031.

The financing depends on the merger closing, and the company has said the proceeds could support general corporate needs, additional XRP purchases, or XRP ecosystem activity.

At an XRP price of $1.50, $30 million would mathematically be enough to buy about 20 million XRP, although Evernorth has not said the entire amount will be used for token purchases.

After shareholder approval, the next key steps are completion of the merger, finalization of Evernorth’s XRP treasury, and the eventual start of XRPN trading on Nasdaq.