Evernorth Holdings Executives Business Combination Agreement With Armada Acquisition To Go Public In Over $1 Billion Gross Proceeds

Evernorth Holdings Inc., a newly formed Nevada corporation ("Evernorth") that will enable XRP adoption on an institutional scale, today announced its public launch and the execution of a business combination agreement with Armada Acquisition Corp II (Nasdaq: AACI) ("Armada II"), a publicly traded special purpose acquisition company. Upon closing of the transaction, the combined company will operate under the Evernorth name and is expected to trade on Nasdaq under the ticker symbol "XRPN," subject to the satisfaction of the listing requirements.

The transaction is expected to raise over $1 billion in gross proceeds, including $200 million from SBI and additional investments from Ripple, Rippleworks (an independent charitable foundation supporting social impact ventures globally), and leading digital asset and fintech leaders and investors, including Pantera Capital, Kraken, and GSR, with participation from Ripple co-founder Chris Larsen, among others. Net proceeds will primarily fund open-market purchases of XRP to build the world's leading institutional XRP treasury, with a portion allocated to working capital, general corporate purposes, and transaction expenses.