Evernorth Pushes Expected XRP Treasury Debut to Oct. 12

Evernorth Holdings Inc. expects to close its business combination with Armada Acquisition Corp. II on or about Oct. 9 and begin Nasdaq trading under XRPN on or about Oct. 12, extending the wait for its planned XRP treasury debut.

Evernorth described the schedule change as an administrative delay that is not expected to affect the closing. The transaction remains subject to customary closing conditions and Nasdaq listing requirements.

The revised timetable moves the expected closing from Oct. 7 and the planned trading start from Oct. 8. Armada shareholders approved the business combination Sept. 30.

The new dates give traders more time to consider whether Evernorth’s public-market structure will create additional demand for XRP. The company has announced plans for an XRP treasury, but the listing itself is not confirmed to trigger spot purchases.

Evernorth expects to hold approximately 473 million XRP at closing. The transaction is also expected to generate about $300 million in gross cash proceeds before expenses, including $225 million from private placements, $30 million from convertible-note financing and approximately $48 million from trust proceeds.

“Going public will offer investors a regulated, transparent way to own XRP exposure,” Asheesh Birla, Evernorth’s founder and CEO, said.

Market indicators around the revised debut pointed to a divided setup. Support levels were listed at $1.3996, $1.3736 and $1.3369, while resistance levels stood at $1.4409, $1.4902 and $1.5462 as of 12:08 a.m. ET (04:08 UTC) on Oct. 8.

The four-hour trend was bearish, while the daily trend was strongly bullish at that time. A daily MACD reading of 0.0170, a signal line of 0.0328 and a histogram of -0.0158 were recorded at 12:35 a.m. ET (04:35 UTC) on Oct. 8, indicating conflicting momentum signals.

The delay alone does not establish a causal link with XRP’s market price. It changes the expected timing of XRPN’s launch while leaving open whether Evernorth’s public-market structure will lead to new token buying.

The expected XRP balance and transaction proceeds are projections for closing, not confirmed post-closing totals. The revised schedule follows Evernorth’s earlier announcement of an Oct. 8 Nasdaq debut plan.

The next stated milestones are the expected Oct. 9 closing and Oct. 12 Nasdaq trading start, provided the remaining conditions are satisfied.