Evernorth completed its business combination with Armada Acquisition Corp. II on October 9, and Nasdaq has set October 12 as the marketplace effective date for the combined company's shares and warrants. The closing brings its XRP treasury business into the completed public-company structure described in the transaction documents.
The company's closing filing confirms completion under an agreement signed on October 19, 2025 and amended in August 2026. The newly confirmed development is the closing, following Armada shareholders' September 30 meeting, rather than the original announcement of a planned combination.
Armada was a special purpose acquisition company, a listed vehicle formed to combine with another business. On October 8, it moved its corporate domicile from the Cayman Islands to Delaware and changed its name to Arrington Capital SPAC I Inc., according to the filing.
Nasdaq's corporate-action notice, updated to mark the deal closed, says XRPN and XRPNW will be reassigned from the predecessor to Evernorth. XRPN identifies the shares and XRPNW the warrants. The predecessor's XRPNU units will separate into their components.
The same notice specifies one Evernorth share for each eligible predecessor share and one Evernorth warrant for each predecessor warrant. The continuing ticker names therefore accompany a change in the issuer, rather than indicating that the former acquisition company remains the listed business.
Evernorth's October 9 announcement says its common stock is expected to begin trading on October 12. As of October 10, that session is still ahead. The completed merger and the scheduled exchange transition are separate milestones; the notice does not establish trading activity under the combined company before that date.