Evernorth Partners with SPAC to Propel $1B IPO and Develop XRP Treasury

Evernorth Holdings Inc. has partnered with the special-purpose acquisition company Armada Acquisition Corp II to facilitate a $1 billion IPO, aiming to enhance its digital asset strategies with a focus on XRP Treasury.

• Evernorth Holdings Inc. signed a business combination agreement with the special-purpose acquisition company Armada Acquisition Corp II (NASDAQ:AACI), targeting over $1 billion in gross proceeds.
• Armada Acquisition Corp II currently has a market capitalization of $331.06 million and is characterized by low price volatility, typical for pre-merger SPACs.
• The transaction aims to bolster Evernorths plans for developing an XRP Treasury, leveraging the capabilities of Ripple (payment protocol) to expand its digital asset portfolio.