Odaily Planet Daily reports that Evernorth has signed a note purchase agreement with NH Investment & Securities to issue convertible preferred PIK notes maturing in 2031 with an interest rate of 4%. The transaction is contingent upon the completion of a business combination with Armada Acquisition Corp. II, Pathfinder Digital Assets, and Ripple Labs, and is expected to close in the fourth quarter. The newly combined entity plans to list on Nasdaq under the ticker symbol XRPN, subject to exchange approval. Evernorth is an XRP treasury company.
Evernorth to Raise $30 Million Through Convertible PIK Notes, NH Investment & Securities to Participate
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Summary
Evernorth to Raise $30M Through Convertible PIK Notes, with NH Investment & Securities Participating. The transaction involves 4% convertible preferred PIK notes maturing in 2031. The deal is contingent on a business combination with Armada Acquisition Corp. II, Pathfinder Digital Assets, and Ripple Labs, expected in Q4. The new entity plans to list on Nasdaq under the ticker XRPN, subject to approval. Evernorth is an XRP treasury company. On-chain news continues to underscore significant capital movements in the crypto sector, with new token listings remaining a key focus for market participants.
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