From Coinpedia · By Nidhi Kolhapur
Armada Acquisition Corp. II shareholders approved the proposed business combination with Evernorth on September 30. The deal is expected to raise about $300 million in gross cash proceeds, while investors have also contributed XRP. At closing, Evernorth is expected to hold about 473 million XRP, making it the largest publicly traded pure-play XRP treasury company. The transaction is expected to close on October 7, subject to remaining conditions. The combined company is expected to begin trading on Nasdaq under “XRPN” on October 8.
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