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Evernorth XRP treasury plan clears vote, but funding may fall short
The company says its next token purchases depend on cash left at closing, implying about $88.5 million in gross sources if conditional funding settles.
Evernorths Nasdaq XRP treasury plan has won shareholder approval as part of its planned combination with Armada Acquisition Corp. II, with the companies targeting closing on October 7 and a Nasdaq trading start for the combined company on October 8, under ticker XRPN, according to CryptoSlate.
CryptoSlate reports the funding for the next round of XRP purchases depends on cash available at closing, with the disclosed structure implying roughly $88.5 million in gross sources if three delayed or conditional funding components all settle, before expenses and other uses.
The outlet also notes that the company previously cited an approximately $300 million gross cash figure, which included a private placement program that already supported a roughly $214 million XRP purchase reported in November 2025.
In the October 1 announcement, Evernorth listed $225 million from related private placements, $30 million of incremental convertible note financing, and approximately $48 million of trust proceeds, with additional demand for XRP purchases limited by what remains after transaction expenses.
Latest closeXRP $1.463 ▼2.0%|Nasdaq Comp. 26,861.06 ▲0.2%