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
Location
Florida, United States
Transaction Type
Buyout

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