Ripple-Backed Evernorth Secures Major Deal Ahead of Nasdaq Listing: Why Is XRP Price Still Down?

Evernorth, the Ripple-backed company building an XRP-focused digital asset treasury, has completed its merger with Armada Acquisition Corp. II, according to a regulatory filing . The company expects to begin trading on Nasdaq under the ticker XRPN on Monday, Oct. 12. The transaction brings together Evernorth, Pathfinder Digital Assets, Ripple, Armada and two merger subsidiaries. Under the deal structure, Pathfinder and the former Armada entity became wholly owned subsidiaries of Evernorth. Armada also completed its move from the Cayman Islands to Delaware on Oct. 8, adopting the name Arrington Capital SPAC I Inc.