Evernorth raises $30M convertible notes ahead of Nasdaq merger vote
- —$30M convertible notes carry 4% PIK interest and mature in 2031
- —Proceeds may fund XRP purchases and ecosystem activity post-merger
- —Armada shareholders vote on the business combination on Sept. 30, 2026
- —Combined company expects to hold at least 473.28M XRP at closing
Why it matters: The deal reinforces one of the largest public XRP treasury strategies and could add token demand once the merger closes.
Source: crypto.news