Wu description learned that Evernorth, a crypto startup backed by Ripple, announced it has publicly submitted a Form S-4 registration statement to the U.S. SEC, involving its business combination with Armada Acquisition Corp. II, a SPAC company sponsored by Arrington Capital, and related transaction arrangements, with the goal of creating a Nasdaq-listed XRP treasury company. Previously in October 2025, Evernorth disclosed that the transaction is expected to raise over $1 billion, which will be used to establish an XRP treasury strategy.
Wu description learned that Evernorth, a crypto startup backed by Ripple, announced it has publicly submitted a Form S-4 registration statement to the U.S. SEC, involving its business combination with Armada Acquisition Corp. II, a SPAC company sponsored by Arrington Capital, and related transaction arrangements, with the goal of creating a Nasdaq-listed XRP treasury company. Previously in October 2025, Evernorth disclosed that the transaction is expected to raise over $1 billion, which will be used to establish an XRP treasury strategy.