Evernorth Holdings has cleared a decisive shareholder hurdle on the way to a planned Nasdaq listing, after investors in its blank-check merger partner backed the deal that would turn the firm into a publicly traded vehicle centered on XRP.
Evernorth and Armada Acquisition Corp. II said on October 1, 2026, that Armada’s shareholders approved the proposed combination at an extraordinary general meeting held the day before.
The vote removes one of the last formal obstacles before closing.
The parties still expect the transaction to finish on October 7, provided the remaining customary conditions are satisfied or waived.
Class A common stock of the combined company, which will continue under the Evernorth Holdings name, is then scheduled to start trading on Nasdaq on October 8 under the ticker XRPN.
The financing picture is large relative to most single-token treasury listings.
Together, the business combination and related private placements have brought in more than $1 billion.
Cash expected from the deal is more modest: roughly $300 million in gross proceeds before expenses, made up of about $225 million from associated private placements, $30 million of additional convertible-note financing, and approximately $48 million left in the SPAC trust.
Backers have also put XRP into the transaction directly.
On that basis, Evernorth expects to hold about 473 million XRP when the deal closes, a balance the company says would make it the largest pure-play XRP treasury listed on a public exchange.Support from committed capital looks intact.
The companies said every advanced and delayed funder is still participating.
The investor roster includes Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR, among others.
Founder and chief executive Asheesh Birla framed the listing as a regulated, transparent route for investors who want XRP exposure and a stake in the broader blockchain economy, and he thanked shareholders for backing the final stretch of the deal.
Armada itself is a special purpose acquisition company sponsored by Arrington XRP Capital Fund, LP.
It was formed on October 3, 2024, and is led by chief executive Taryn Naidu, with Michael Arrington as chairman and Kyle Horton as chief financial officer.
Once public, Evernorth intends to operate as a digital asset treasury that gives holders liquid exposure to XRP, rather than simply parking tokens.
Management has said it will try to increase XRP per share over time through yield approaches, participation in the token’s ecosystem, and capital-markets activity.
The path to the vote ran through US securities disclosure.
A registration statement on Form S-4 covering the combination and related placements was declared effective by the Securities and Exchange Commission on August 27, 2026, after which the definitive proxy materials went to Armada holders.
An SEC filing on the meeting shows a quorum: 21,877,045 common shares, about 69 percent of those entitled to vote, were represented in person or by proxy.
The business-combination proposal passed with 20,514,034 votes in favor, 1,362,081 against, and 930 abstentions.
A related merger resolution passed on a similar margin.
Approval does not by itself complete the listing.
Closing still depends on leftover conditions, and the share price will remain tied to a volatile token, redemption levels in the SPAC trust, and whether the company can meet and keep Nasdaq standards. Even so, the September 30 vote moves Evernorth from a pending SPAC merger to a near-term public debut as one of the more closely watched XRP treasury structures in US markets.
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