Evernorth Bags 94% Votes In Favor For 473M XRP Treasury Merger Deal
Evernorth has overcome a major obstacle in its proposed merger with Armada Acquisition Corp. II with the approval of the merger at its extraordinary general meeting on September 30. The result moves the proposal of Evernorth’s XRP treasury forward to be a repository for approximately 473 million XRP once it’s completed.
XRP Treasury Evernorth’s Merger Proposal Passes With 94% Votes In Favor
A total of 21,877,045 shares, representing approximately 69% of the shares that can vote, casted their rights at the meeting, according to the October 1 SEC filing. For the Evernorth Business Combination Proposal at Armada, a majority of 19,331,337 did vote in favor.
However, 1,362,081 did vote against, and 930 did not vote at all. That’s about 94% of voters who voted in favor of the Evernorth deal.
The Merger Proposal was also approved by the shareholders with a vote for 20,514,597, a vote against 1,362,089 and a abstention of 359 votes. The SPAC merger was approved by the proposal.
🚨 BREAKING: SEC filing is OUT $XRPN shareholders APPROVE the Evernorth merger!
✅ 20.51M For vs 1.36M Against
✅ 94% of votes cast in favorFirst big public XRP treasury is one step closer 👀 https://t.co/2JHHQ1sos9 pic.twitter.com/f6Ywx0qB5h
— Xaif Crypto (@Xaif_Crypto) October 1, 2026
Another step in the Domestication Proposal passed as well, bringing it closer towards completion. The measure would move Armada’s corporate domicile from the Cayman Islands to Delaware. There were no votes cast against or abstained from the proposal. Moreover, all 7,880,000 votes cast on that proposal were in favor.
Additionally, a pair of advisory proposals for the State of Delaware and organizational documents were also approved on a non-binding basis.
What Are The Next Steps For XRPN Listing On Nasdaq?
A shareholder vote eliminates an important approval condition but the combination of this and the remaining closing conditions must still be met. If the requirements are met, Evernorth and Armada would be able to move forward with closing and transition to the public market.
Armada currently has its securities listed on Nasdaq under the ticker symbols Class A ordinary shares (XRPN) and warrants (XRPNW). The transaction will create a combined company that will post under XRPN following closing and that is in compliance with the Nasdaq requirements as required upon closing, (as to which, the Company intends to comply at or shortly after the close of the transaction).
Earlier, the SEC declared the registration statement for Evernorth effective August 27. Meanwhile, the latest October 1 filing also provides details of the approval and September 30 vote of the Business Combination, Merger and Domestication Proposals.
The vote now brings the XRP treasury transaction to its final stages, and investors are waiting to see it complete and trading on XRPN begins.
