Armada shareholders vote on Evernorth XRP treasury deal
- —Shareholder vote set for September 30, redemption deadline was September 28
- —Projected treasury of at least 473,276,430 XRP at closing
- —Ripple contributes 126,791,458 XRP; 84.37 million bought for $214 million at $2.5366
- —$30 million convertible financing tied to closing at a 4% PIK rate
Why it matters: The vote determines whether a large public XRP treasury company lists on Nasdaq, though actual exposure depends on redemptions and dilution.
Source: crypto.news