# Evernorth Holdings Inc. — merger/spac_merger [completed]
Source: SEC API (secapi.ai) · situation sit_ff06ba1516878faebe7a · retrieved 2026-08-11T15:52:10.756Z

## Overview
Evernorth Holdings Inc. is a Nevada corporation that, through its subsidiaries and in connection with Ripple Labs Inc., intends to build an institutional XRP treasury, execute DeFi yield strategies, and serve as a leading institutional vehicle for XRP adoption in capital markets.

On October 19, 2025, Armada Acquisition Corp. II (a Cayman Islands SPAC) entered into a Business Combination Agreement with Evernorth Holdings Inc. (a Nevada corporation serving as the public company), Pathfinder Digital Assets LLC (the operating company), and Ripple Labs Inc. The transaction contemplates a business combination and private placement transactions. The combined company intends to build an institutional XRP treasury and execute DeFi yield strategies, positioning itself as a leading institutional vehicle for XRP with operational independence and a focus on capital markets adoption of the digital asset.

## Terms
- Counterparty: Armada Acquisition Corp. II

## Key dates
- Completed 2026-07-20

## Timeline
- 2026-07-20 · 425 (0000950103-26-010848): 425 - Evernorth Holdings Inc. — *Evernorth Holdings Inc. is a Nevada corporation that, through the proposed business combination with Armada Acquisition Corp. II and Pathfinder Digital Assets LLC, intends to build and manage an institutional XRP treasury and execute decentralized finance yield strategies.* On October 19, 2025, Armada Acquisition Corp. II (a Cayman Islands SPAC) entered into a Business Combination Agreement with Evernorth Holdings Inc. (a Nevada corporation), Pathfinder Digital Assets LLC, and Ripple Labs Inc. The transaction contemplates a business combination between the SPAC and Pubco, private placement transactions, and other related transactions. A Registration Statement was filed on March 18, 2026, including a preliminary proxy statement and prospectus. The combined company intends to build an institutional XRP treasury and execute DeFi yield strategies, positioning itself as a leading institutional vehicle for XRP with expected Nasdaq listing.
  https://www.sec.gov/Archives/edgar/data/2092592/0000950103-26-010848.txt
- 2026-07-20 · 425 (0000950103-26-010849): 425 - Evernorth Holdings Inc. — *Evernorth Holdings Inc. is a Nevada corporation that, through its subsidiaries and in connection with Ripple Labs Inc., intends to build an institutional XRP treasury, execute DeFi yield strategies, and serve as a leading institutional vehicle for XRP adoption in capital markets.* On October 19, 2025, Armada Acquisition Corp. II (a Cayman Islands SPAC) entered into a Business Combination Agreement with Evernorth Holdings Inc. (a Nevada corporation serving as the public company), Pathfinder Digital Assets LLC (the operating company), and Ripple Labs Inc. The transaction contemplates a business combination and private placement transactions. The combined company intends to build an institutional XRP treasury and execute DeFi yield strategies, positioning itself as a leading institutional vehicle for XRP with operational independence and a focus on capital markets adoption of the digital asset.
  https://www.sec.gov/Archives/edgar/data/2092592/0000950103-26-010849.txt

## Citations
- 0000950103-26-010848 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000095010326010848
- 0000950103-26-010849 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000095010326010849