# Armada Acquisition Corp. II (XRPNW) — merger/spac_merger [pending]
Source: sec.gov · situation sit_f5ce9c4dcfbc988d4ba7 · public 5105622084964861617 · retrieved 2026-08-19T11:34:42.138Z

## Overview
Armada Acquisition Corp. II is a Cayman Islands exempted company blank-check SPAC seeking to combine with Evernorth Holdings Inc. to create an institutional vehicle for XRP treasury management and DeFi yield strategies.

Armada Acquisition Corp. II (SPAC) entered into a Business Combination Agreement dated October 19, 2025, with Evernorth Holdings Inc. (Pubco), Pathfinder Digital Assets LLC (Company), and Ripple Labs Inc. The transaction contemplates a business combination, private placement transactions, and related transactions. On March 18, 2026, Pubco filed a Registration Statement on Form S-4 including a preliminary proxy statement and prospectus. The combined company intends to build an institutional XRP treasury and execute DeFi yield strategies to drive institutional adoption of XRP.

## Terms
- Counterparty: Evernorth Holdings Inc., Pathfinder Digital Assets LLC, Ripple Labs Inc.

## Key dates
- Announced 2026-08-13

## Timeline
- 2026-08-13 · 425 (0001193125-26-349549): 425 - Armada Acquisition Corp. II — *Armada Acquisition Corp. II is a Cayman Islands exempted company blank-check SPAC seeking to combine with Evernorth Holdings Inc. to create an institutional vehicle for XRP treasury management and DeFi yield strategies.* Armada Acquisition Corp. II (SPAC) entered into a Business Combination Agreement dated October 19, 2025, with Evernorth Holdings Inc. (Pubco), Pathfinder Digital Assets LLC (Company), and Ripple Labs Inc. The transaction contemplates a business combination, private placement transactions, and related transactions. On March 18, 2026, Pubco filed a Registration Statement on Form S-4 including a preliminary proxy statement and prospectus. The combined company intends to build an institutional XRP treasury and execute DeFi yield strategies to drive institutional adoption of XRP.
  https://www.sec.gov/Archives/edgar/data/2044009/0001193125-26-349549.txt

## Citations
- 0001193125-26-349549 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526349549