Evernorth delays Nasdaq debut to October 12 after administrative issue

Evernorth Holdings Inc. has delayed its Nasdaq trading debut under the ticker XRPN to October 12, 2026, citing a technical administrative delay. The company now expects to close its merger with Armada Acquisition Corp. II on October 9, 2026. Upon closing, Evernorth aims to operate the largest publicly traded XRP treasury, holding 473 million XRP tokens and $300 million in cash. The four-day delay has caused minimal market volatility, with XRP's price dipping less than 2% in line with a broader market correction.

Delay of Evernorth Nasdaq debut

• ▪The scheduled October 12, 2026, trading start for Evernorth Holdings Inc. remains subject to customary closing conditions and Nasdaq listing requirements
• ▪Evernorth Holdings Inc. delayed its expected Nasdaq debut under the ticker XRPN from October 8, 2026, to the start of the session on Monday, October 12, 2026, due to an administrative issue
• ▪A schedule change delaying Evernorth Holdings Inc.'s Nasdaq debut to October 12, 2026, was first disclosed on October 6, 2026, and described by management as a technical administrative delay

Armada Acquisition Corp. II merger status

• ▪Armada Acquisition Corp. II shareholders unanimously approved the proposed business combination with Evernorth Holdings Inc. at a meeting on September 30, 2026
• ▪Evernorth Holdings Inc. expects to legally close its business combination with Armada Acquisition Corp. II on Friday, October 9, 2026

Transaction value and financial backing

• ▪At the closing of its merger with Armada Acquisition Corp. II, Evernorth Holdings Inc. expects to hold approximately 473 million XRP tokens in its strategic treasury
• ▪The total financial commitments for the Evernorth Holdings Inc. transaction include investments from Ripple, Pantera Capital, and Kraken

XRP market activity and ETF flows

• ▪The price of XRP fell nearly 2% on October 7, 2026, a minor decline that analysts attributed to a broader local correction across the cryptocurrency sector rather than Evernorth Holdings Inc.'s Nasdaq listing delay
• ▪XRP exchange-traded funds recorded 12 consecutive weeks of inflows leading up to the October 6, 2026 announcement of the Evernorth Holdings Inc. listing delay

Debatable claims

• ▪Evernorth's Nasdaq listing will drive meaningful long-term demand for XRP
• ▪Evernorth's administrative delay reflects systemic hurdles for crypto listings on traditional exchanges