Evernorth to go public via a SPAC merger with Armada Acquisition Corp.

Evernorth, a digital asset treasury that provides investors with exposure to XRP, agreed to go public via a SPAC merger with Armada Acquisition Corp, a publicly traded special purpose acquisition company. Financial terms were not disclosed. "Evernorth is built to provide investors more than just exposure to XRP's price. As we capitalize on existing TradFi yield generation strategies and deploy into DeFi yield opportunities, we also contribute to the growth and maturity of that ecosystem. This approach is designed to generate returns for shareholders while supporting XRP's utility and adoption. It's a symbiotic model: our strategy is designed to align with the growth of the XRP ecosystem," Asheesh Birla, Evernorth CEO.