Earnings summaries and quarterly performance for AACI.
Research analysts covering AACI.
Recent press releases and 8-K filings for AACI.
Armada Acquisition Corp. II Announces Evernorth's Confidential S-4 Submission for Business Combination
AACI
M&A
New Projects/Investments
- On November 13, 2025, Evernorth Holdings Inc. confidentially submitted a draft registration statement on Form S-4 to the SEC, marking a significant milestone towards its proposed business combination with Armada Acquisition Corp. II.
- The business combination, initially announced on October 20, 2025, is expected to close in Q1 2026, subject to customary closing conditions and Armada II shareholder approval.
- The resulting new company, Evernorth, aims to be the largest public XRP treasury company on Nasdaq, having raised over $1 billion in gross proceeds.
- Evernorth will operate as a publicly traded digital asset treasury, providing investors with exposure to XRP and intending to actively grow its XRP per share through institutional and DeFi yield strategies.
Nov 13, 2025, 1:06 PM
Armada Acquisition Corp. II Partner Evernorth Acquires Additional XRP
AACI
M&A
New Projects/Investments
- On November 4, 2025, Evernorth Holdings Inc. purchased an additional 84,365,876.3625 XRP at an average price of $2.53657058 per XRP, utilizing $214 million in cash proceeds from an advanced funding private placement.
- This acquisition brings Evernorth's total XRP purchased and committed to over 473,276,430 XRP since announcing its business combination with Armada Acquisition Corp. II.
- The "Signing XRP Price" for various agreements related to the business combination was determined to be $2.36609.
- Evernorth aims to build a long-term, institutional-grade XRP treasury with compounding yield, providing investors with exposure to XRP through a regulated, liquid, and transparent structure upon closing its business combination with Armada II.
Nov 4, 2025, 1:15 PM
Armada Acquisition Corp. II Announces Ticker Symbol Change and Strategic Transformation
AACI
M&A
New Projects/Investments
- Armada Acquisition Corp. II will change its NASDAQ ticker symbol from AACI to XRPN, effective October 30, 2025. The ticker symbols for its units and warrants will also change to XRPNU and XRPNW, respectively.
- This change marks a strategic transformation into an institutional XRP digital asset treasury company, aligning with a $1 billion strategy for XRP exposure on NASDAQ.
- The ticker symbol changes follow a business combination agreement with Evernorth Holdings, Inc., which has raised over $1 billion in gross proceeds to fund open-market purchases of XRP.
- The completion of this business combination is anticipated in the first quarter of 2026, pending shareholder approval and other customary closing conditions.
Oct 29, 2025, 2:05 PM
Armada Acquisition Corp. II to Change Ticker to XRPN Following $1 Billion XRP Strategy
AACI
M&A
New Projects/Investments
- Armada Acquisition Corp. II (AACI) will change its NASDAQ ticker symbol to XRPN, effective October 30, 2025.
- This change follows a business combination agreement with Evernorth Holdings, Inc., transforming the company into an institutional XRP digital asset treasury.
- The new entity, Evernorth, has raised over $1 billion in gross proceeds to fund open-market purchases of XRP, aiming to provide investors with regulated exposure to XRP and grow XRP per share through institutional and DeFi yield strategies.
Oct 29, 2025, 1:56 PM
Evernorth to Go Public With Over $1 Billion in Gross Proceeds
AACI
M&A
New Projects/Investments
- Evernorth Holdings Inc. will go public through a business combination with Armada Acquisition Corp II (Nasdaq: AACI), with the combined company operating as Evernorth and expected to trade on Nasdaq under the ticker symbol "XRPN".
- The transaction is anticipated to raise over $1 billion in gross proceeds, including $200 million from SBI and additional investments from Ripple, Rippleworks, Pantera Capital, Kraken, and GSR.
- Evernorth aims to become the largest public XRP treasury company, providing investors with liquid exposure to XRP and seeking to grow XRP per share through institutional lending, liquidity provisioning, and DeFi yield opportunities.
- The transaction, which has been unanimously approved by the Boards of Directors of both companies, is expected to close in Q1 2026.
- Evernorth's leadership team includes CEO Asheesh Birla, formerly a senior executive at Ripple, and Ripple executives are expected to serve as strategic advisors.
Oct 20, 2025, 12:00 PM
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