According to BeInCrypto, the merger between digital asset financial firm Evernorth and SPAC company Armada Acquisition Corp. II has been approved by shareholders and is set to debut on Nasdaq on October 8 (stock ticker: XRPN). Evernorth currently holds 473 million XRP on its books, aiming to provide U.S. stock investors with compliant exposure to XRP. However, due to the token's price drop from $2.37 at the time of the October 2025 agreement to the current $1.49, the value of this holding has shrunk by 37%, from approximately $1.1 billion to $705 million. Reportedly, around 388 million of these tokens were injected through equity swaps by Ripple and its affiliates rather than purchased on the secondary market. The merger is expected to bring approximately $300 million in cash funding, with part of the funds intended for further XRP accumulation and exploring yield strategies. https://www.(wublock123.com)/news/evernorth-xrp-treasury-spac-merger-approved-nasdaq-oct-8-69372