Evernorth Agrees to Business Combination with Armada Acquisition Corp. II
October 20, 2025
Evernorth Holdings agreed to combine with Armada Acquisition Corp. II in a transaction intended to take Evernorth public on Nasdaq. The transaction and related private placements are expected to raise more than $1 billion to support Evernorth’s XRP treasury and related ecosystem activities; shareholders approved the combination on September 30, 2026, but the supplied articles describe closing as still pending.
- Buyers
- Evernorth Holdings, Inc.
- Targets
- Armada Acquisition Corp. II
- Industry
- Financial Services
- Location
- Florida, United States
- Transaction Type
- Buyout
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