The Block (@TheBlockCo): THE BLOCK: Armada Acquisition Corp. II shareholders have approved its business combination with Evernorth, clearing a key step for the XRP treasury co…
Estimated coin impact
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- XRP+35Positive
THE BLOCK: Armada Acquisition Corp. II shareholders have approved its business combination with Evernorth, clearing a key step for the XRP treasury company to go public on Nasdaq. The transaction is expected to raise about $300 million in gross cash proceeds, while investors have contributed $XRP in kind, leaving Evernorth expected to hold roughly 473 million XRP at closing. The deal is expected to close Oct. 7, with the combined company set to trade under the ticker XRPN beginning Oct. 8.