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Prediction market on metaculus. Evernorth Holdings Inc. is a Ripple-backed digital-asset-treasury company built to hold XRP at institutional scale; it reports holding more than 473 million XRP and has raised over $1 billion from investors including Ripple, SBI, Pantera Capital, Kraken, and GSR. On October 19, 2025, Evernorth entered a definitive business combination agreement to go public through a merger with Armada Acquisition Corp. II, a special purpose acquisition company (SPAC) sponsored by Arrington Capital that IPO'd in May 2025 raising $230 million (the deal was publicly announced on October 20, 2025). The SPAC changed its ticker from AACI to XRPN on October 30, 2025, so XRPN already trades on Nasdaq for the pre-merger SPAC. Upon closing, the combined company is to operate under the Evernorth name and continue trading on Nasdaq under XRPN. The SEC declared the Form S-4/registration statement effective on August 27, 2026. A special shareholder meeting to approve the combination is scheduled for September 30, 2026 (record date August 20, 2026). Public shareholders may redeem shares (estimated ~$10.52/share) with a redemption deadline around September 28, and the deal carries a 20% redemption cap. Evernorth's August 27, 2026 press release stated the transaction is expected to close in "late Q3 or early Q4 2026," subject to the shareholder vote, customary closing conditions, and exchange approval. As of September 18, 2026, XRPN traded near $10.55 and the deal had not yet closed. SPAC closings typically follow the approval vote within a short interval (often a few business days), so whether the legal closing lands specifically on October 1 or 2 — the two US business days immediately after a September 30 vote — is uncertain: it could slip earlier (a same-day or September 30 close), later, or fail if the vote or closing conditions are not satisfied. `{"format": "llm_question", "info": {"sdk_version": "0.6.0", "rating": {"quality": 3, "ambiguity": 4, "resolvability": 4, "passes": true}}}`
Resolves: 10/3/2026.