Armada Acquisition Corp. II to Trade as 'XRPN' on NASDAQ with $1 Billion XRP Strategy

Miami, FL – Armada Acquisition Corp. II, a special purpose acquisition company (SPAC) sponsored by Arrington XRP Capital Fund, announced it will change its NASDAQ ticker symbol to "XRPN," effective October 30, 2025. This strategic move aligns with the company's new $1 billion strategy focused on institutional exposure to XRP, the digital asset associated with Ripple. The announcement underscores a significant transformation for the firm and its commitment to the cryptocurrency market.

The ticker symbol change follows a business combination agreement with Evernorth Holdings, Inc., a newly formed Nevada corporation. This merger will establish Evernorth as a publicly traded digital asset treasury, aiming to provide investors with regulated, liquid, and transparent access to XRP. The combined entity has secured over $1 billion in gross proceeds specifically for open-market purchases of XRP.

Michael Arrington, founder of Arrington Capital and Chairman of the Board at Armada Acquisition Corp. II, expressed strong conviction in the venture. "As the SPAC sponsor and longtime XRP fanatics, we at Arrington Capital have high conviction in Evernorth's ability to drive meaningful impact and add shareholder value," Arrington stated. He highlighted XRP's expanding ecosystem, citing "bold product innovations, a relentless community and a string of notable new contributors."

Arrington Capital, co-founded in 2017 by TechCrunch founder Michael Arrington, is a digital asset management firm specializing in blockchain-based capital markets. The firm has a history of investing in early-stage Web3 companies and has expanded its focus to include various crypto-native funds. This latest initiative positions Arrington Capital at the forefront of institutionalizing digital asset investments, particularly within the XRP ecosystem.

Evernorth intends to actively grow its XRP per share through a mix of institutional and DeFi yield strategies, ecosystem participation, and capital markets activities, distinguishing itself from traditional exchange-traded funds. The business combination and the subsequent ticker change are pending regulatory approvals and are detailed in filings with the Securities and Exchange Commission.