XRP climbed above $1.50 on September 30 after a shareholder vote approved Evernorth’s merger with Armada Acquisition Corp. II, moving the Ripple-backed firm closer to a Nasdaq listing. The vote, confirmed by XRPL collaborator Bear Champ in a post on X, cleared a key hurdle for the transaction, which also includes a $30 million financing agreement and a separate listing condition. Evernorth projects a treasury of at least 473.3 million XRP at closing, combining purchases and commitments rather than a planned sale. The company’s SEC filing states that neither the SEC nor any state regulator has approved or rejected the merger. XRP traded near $1.51, up about 1.89%, after dipping below $1.47 earlier in the session. The price had briefly reached $1.54 before retreating. Evernorth’s registration materials outline plans to allocate capital toward XRP infrastructure and treasury strategies, including yield generation and ecosystem participation. A conditional debt facility of $30 million in convertible senior notes bearing 4% interest maturing in 2031 was signed on September 11, with proceeds earmarked for general corporate purposes, including XRP acquisitions. Earlier disclosures show Evernorth purchased roughly 84.37 million XRP for $214 million in November 2025 at an average price of $2.5366 per token, and received a contribution of 126,791,458 XRP from Ripple. Executive compensation amendments filed in July detail bonus eligibility and equity awards for three officers, contingent on shareholder approval and the transaction’s completion. The merger remains subject to closing conditions, including financing and regulatory requirements.