Investors seeking exposure to Evernorth’s planned XRP treasury through public markets will wait slightly longer than first indicated after the company adjusted its merger and listing timetable.
In an October 6 statement, Evernorth said an administrative delay had shifted its expected schedule, while emphasizing that the change is not anticipated to prevent the transaction from closing.
The firm now looks for the business combination with Armada Acquisition Corp. II to conclude on Friday, October 9.
Shares of the combined company, expected to trade under the ticker XRPN, are projected to begin on Nasdaq on Monday, October 12.
Both dates remain contingent on ordinary closing conditions and on satisfying Nasdaq’s listing standards.
The company also reminded followers that Armada II shareholders had already voted in favor of the merger.
That vote took place at an extraordinary general meeting on September 30.
An October 1 announcement from Evernorth and Armada II had previously pointed to a closing around October 7 and a trading start around October 8.
The newer guidance therefore moves the anticipated closing by two days and the expected first trading session by four days, effectively pushing the debut from midweek into the following week.
Descriptions of the dates as expectations, rather than fixed commitments, leave room for further adjustment if remaining conditions require it.Evernorth is structured as a digital asset treasury business whose principal holding is XRP.
Under the combination, the resulting public company is projected to hold roughly 473 million XRP at closing, a position the parties have described as large enough to make it the biggest pure-play XRP treasury available on a public exchange.
Separate from token contributions, the transaction has been outlined as generating about $300 million in gross cash proceeds before expenses.
Those proceeds have been associated with related private placements, incremental convertible-note financing, and cash remaining in Armada II’s trust account.
Some investors have also supplied XRP directly rather than cash.Armada II is a special purpose acquisition company already associated with the Nasdaq ticker that the combined entity intends to use.
Shareholder approval cleared a major procedural step, but it did not by itself complete the merger or guarantee an immediate listing.
Due to an administrative delay that is not expected to affect the closing, we now expect to close on Friday, October 9th, with XRPN expected to start trading on Nasdaq on Monday, October 12th, in each case subject to customary closing conditions and Nasdaq listing requirements.…
— evernorthxrp (@evernorthxrp) October 6, 2026
Closing still depends on satisfaction or waiver of remaining conditions, and the start of trading depends on the exchange’s requirements being met.
Evernorth’s October 6 note framed the postponement specifically as administrative and said it was not expected to affect completion of the deal.
Backers previously identified in connection with the transaction include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR, among others.
The companies have stated that investor participation in the funding arrangements remained intact after the shareholder vote.
Once closed, the combined business is expected to operate as Evernorth Holdings, Inc., with Class A common stock intended for Nasdaq trading under XRPN.
The revised timetable arrives after months of preparatory steps, including effectiveness of a registration statement that allowed the shareholder solicitation to proceed and the September 30 vote itself.
Market participants watching the XRP treasury sector have treated the listing as a potential route to regulated equity exposure tied to a large dedicated XRP position, distinct from holding the token directly. Whether the October 9 and October 12, 2026 targets actually hold will depend on the final closing mechanics and exchange clearance. Until those conditions are satisfied, the dates remain forward-looking estimates rather than confirmed events (at the time of writing).
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