On October 20, Evernorth Holdings Inc. announced it will go public via a SPAC merger with Armada Acquisition Corp II. The company aims to build the world’s largest institutional XRP treasury. Both companies’ boards unanimously approved the transaction, which will generate over $1 billion in gross proceeds. The new company will allocate most of these proceeds to purchase XRP on the open market. Upon closure, Evernorth will trade as “XRPN” on Nasdaq, pending standard approvals, and will provide investors a ...