The 'Largest Pure-Play' XRP Treasury Is About to Go Public
In briefEvernorth cleared its final hurdle to go public after Armada Acquisition Corp. II shareholders approved their merger Sept. 30.The transaction and related placements raised over $1 billion for what the company calls the largest publicly traded pure-play XRP treasury.Backed by Ripple, Pantera, Kraken and others, it joins the crypto-treasury trend, with fortunes tied to XRPs volatile price. Evernorth, a treasury company built around XRP, has cleared the last major obstacle to going public, with shareholders approving its merger and setting the stage for a Nasdaq listing next week. The company said Wednesday that shareholders of Armada Acquisition Corp. II, the blank-check company Evernorth is merging with, voted to approve the business combination at a meeting Sept. 30. Myriad: Where does XRP go next? Click to make your prediction. The deal is expected to close Oct. 7, with Evernorths Class A common stock slated to begin trading Oct. 8 under the ticker “XRPN.” The merger and related fundraising have pulled in more than $1 billion. The transaction is expected to generate roughly $300 million in gross cash proceeds, including $225 million from private placements, $30 million in convertible note financing and about $48 million in trust proceeds, before expenses. Investors also contributed XRP directly, and at









