Evernorth Holdings Inc. announced on October 5, 2026, that Armada Acquisition Corp. II has entered into an amendment to its warrant agreement. The amendment modifies the terms of warrants issued by Armada II during its initial public offering (IPO) to align with the original prospectus description.
The warrant agreement, originally dated May 20, 2025, was amended to ensure the exercise period matches the prospectus. The prospectus indicated that the warrants would become exercisable on the later of the consummation of the business combination or 12 months after the IPO closing. The amendment ensures the Warrant Agreement now provides for the same exercise period.
Evernorth and Armada II are proceeding with a proposed business combination. Evernorth is a publicly traded digital asset treasury that intends to provide investors with exposure to XRP through a regulated structure. The combined company plans to pursue yield strategies, ecosystem participation, and capital markets activities to grow its XRP per share over time.
Armada II is a special purpose acquisition company sponsored by Arrington XRP Capital Fund, LP. It was founded on October 3, 2024. The company is led by CEO Taryn Naidu, Chairman Michael Arrington, and CFO Kyle Horton.
The registration statement related to the business combination was declared effective by the SEC on August 27, 2026. The definitive proxy statement/prospectus has been mailed to Armada II shareholders in preparation for the vote on the transaction.
