Armada Acquisition Corp. II shareholders are set to vote on September 30 to approve a merger creating Evernorth, a public company centered on a large XRP treasury projected at over 473 million XRP. The vote is a key step toward a Nasdaq listing under the ticker XRPN but does not guarantee closing or final asset balances. The merger involves contributions from Ripple and others, a conditional $30 million convertible financing, and SPAC redemptions that affect cash availability and share structure. Final disclosures after the vote will clarify the actual XRP balance, cash, liabilities, and fully diluted shares, which determine the true economic exposure of XRPN stockholders. This transaction could add a significant institutional player to the XRP market, but shareholders will own equity in a company managing XRP, not direct XRP tokens.
The XRP treasury vote involves a proposed merger to create Evernorth, a public company managing a large XRP treasury. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Sep 30, 2026 17:21 WIB: out of 50 major cryptocurrencies priced on Pluang, 20 rose and 29 fell today. Notable price moves include SXP (Solar) down 46.27% to Rp37 with a typical hold time of 94 days, BAL (Balancer) up 11.14% to Rp16.297 with a typical hold time of 85 days, and EOS (EOS.IO) up 8.13% to Rp12.649 with a typical hold time of 87 days.
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