Ripple-backed XRP treasury company Evernorth announced that it completed a business merger with SPAC company Armada Acquisition Corp. II on October 9 (ET). Common stock is expected to begin trading on Nasdaq on October 12 under the ticker symbol XRPN. Upon completion of the transaction, the company holds approximately 473 million XRP and has raised a total of about $300 million in cash, before deducting transaction fees. Other investors include Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR, among others. The company plans to allocate capital to XRP ecosystem infrastructure and application deployment, and drive per-share XRP holdings growth through institutional and DeFi yield strategies. https://(wublock123.com)/news/evernorth-ripple-backed-spac-merger-nasdaq-listing-69834