Evernorth Holdings Inc. today announced a business combination agreement with Armada Acquisition Corp II, officially launching operations. After the merger, it will continue to use the Evernorth name and plans to list on NASDAQ under the ticker symbol "XRPN." This transaction is expected to raise over $1 billion in funding, including $200 million from SBI Investment and additional investments from other digital asset and fintech institutions. The raised funds will be used for open market acquisitions of XRP, working capital, and other corporate purposes

According to official news, Evernorth Holdings Inc. (referred to as "Evernorth") announced today the official launch of operations and reached a business merger agreement with the publicly listed special purpose acquisition company Armada Acquisition Corp II (NASDAQ: AACI). The company is committed to promoting the large-scale application of XRP at the institutional level. After the transaction is completed, the merged entity will continue to use the Evernorth name and plans to list on the NASDAQ under the stock code "XRPN," subject to meeting listing conditions. This transaction is expected to raise over $1 billion in total funding, including $200 million invested by SBI, as well as joint investments from leading digital asset and fintech institutions and investors such as Ripple, Rippleworks, Pantera Capital, Kraken, and GSR. Ripple co-founder Chris Larsen is also participating in the investment. The net proceeds from the fundraising will primarily be used for open market purchases of XRP to build a globally leading institutional-grade XRP asset reserve, with some funds allocated for working capital, general corporate purposes, and transaction fees