- Evernorth’s merger brings XRPN to Nasdaq, marking XRP’s institutional rise.
- Armada Acquisition transforms identity with $1 billion XRP treasury focus.
- Nasdaq welcomes XRPN as Evernorth and Arrington Capital strengthen partnership.
According to an update shared by Evernorth (@evernorthxrp) on X, Evernorth Holdings, Inc. has officially completed a business combination agreement with Armada Acquisition Corp II. The move has resulted in Armada’s shares trading on the Nasdaq under the new ticker symbol XRPN.
This development comes as part of a $1 billion strategy designed to increase institutional exposure to XRP. The ticker change took effect on October 30, 2025, signaling a new era for the company and its strategic direction in the digital-asset market.
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Evernorth and Armada Unite for XRP-Focused Expansion
The agreement combines Evernorth Holdings, a newly formed Nevada corporation, with Armada Acquisition Corp II, a special purpose acquisition company backed by Arrington XRP Capital Fund. The collaboration creates a new entity positioned to operate as an institutional XRP treasury company.
Besides, the company announced additional ticker adjustments. Armada’s units have transitioned from “AACIU” to “XRPNU,” and its warrants from “AACIW” to “XRPNW.” These coordinated changes reinforce the unified brand identity built around the XRP ecosystem.
Moreover, the new strategy involves deploying over $1 billion in gross proceeds to fund open-market XRP purchases. This plan aims to strengthen liquidity and offer institutional investors a regulated pathway into digital-asset exposure.
Leadership’s Confidence and Market Significance
Michael Arrington, founder of Arrington Capital and chairman of Armada Acquisition Corp II, expressed strong confidence in the move. He stated that Evernorth’s leadership and vision will help drive significant shareholder value while deepening institutional involvement in XRP.
He further noted that XRP continues to hold a leading position within the expanding digital-asset landscape. Arrington highlighted growing participation from partners such as Hidden Road, GTreasury, Rail, and Standard Custody, describing them as vital contributors to the broader XRP ecosystem.
Evernorth’s partnership with Armada II marks a decisive step toward institutionalizing XRP access through public markets. With the debut of XRPN on Nasdaq, the company positions itself to play a pivotal role in shaping the future of digital-asset treasury operations and XRP-based investment strategies.
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