The Evernorth merger vote cleared a key hurdle on September 30, when shareholders of Armada II approved its business combination with the XRP treasury company. The transaction has not closed, so Evernorth cannot yet move to its planned Nasdaq listing. The companies expect to close October 7 and begin trading under XRPN on October 8, if remaining conditions are met. Those dates remain targets, not confirmation that the deal is complete or new shares are trading.
An October 1 filing with the Securities and Exchange Commission records the vote. About 21.9 million shares, or 69% of those eligible, were represented at the meeting. The business-combination proposal received 20,514,034 votes in favor, 1,362,081 against and 930 abstentions, and the filing says it passed.
The approval removes one hurdle, but it does not guarantee the scheduled close or trading start. Evernorth’s release says the parties still must satisfy or waive remaining closing conditions. Both dates are company expectations, not confirmation that the transaction has been completed or that the new shares are already trading.
The company also described a financing package with several separate components. Evernorth said the transaction and related private placements had raised more than $1 billion in total. It expects about $300 million in gross cash proceeds before transaction expenses, including $225 million from private placements, $30 million in convertible-note financing and roughly $48 million from Armada II’s trust.
That cash figure is distinct from XRP contributed directly by investors. Evernorth expects the combined company to hold about 473 million XRP at closing, according to the release. The company has described plans to manage that treasury through activities that could include yield strategies and participation in the XRP ecosystem. Those are forward-looking plans, not guaranteed returns or a statement of the token’s future price.
Unchained’s October 2 report independently covered the vote and the proposed timetable. It also cited the SEC filing’s tally and noted that Evernorth was formed through a merger with the Nasdaq-listed special-purpose acquisition company. The filing is the source for the final vote counts; the company release supplies its current expected closing schedule and financing figures.
The distinction between approval and completion matters for readers tracking the planned listing. The vote authorizes the proposed combination, while the companies’ remaining closing conditions still determine whether it proceeds on the stated schedule. The SEC filing also says the agency has not approved or disapproved the transaction or judged its merits.
Evernorth says it aims to give public-market investors exposure to XRP through an actively managed treasury. Its stated strategy and expected holdings describe the company’s plans at closing; they do not establish that the strategy will succeed. The next confirmed milestone is whether the companies report that the transaction has closed.
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