Evernorth Holdings Signs $30 Million Convertible Note Deal With NH Investment & Securities

Evernorth Holdings signed a bond purchase agreement with NH Investment & Securities on September 11, according to an 8-K filing disclosed by the U.S. SEC. According to Odaily, the XRP treasury company plans to issue $30 million in convertible senior notes with a 4% annual interest rate and a maturity date in 2031. The notes will pay interest in kind, or PIK, and the accrued interest may be added to principal. Proceeds are intended for general corporate purposes, including XRP purchases and XRP ecosystem-related business. The bond issuance is contingent on Evernorth completing its business combination with special purpose acquisition company Armada Acquisition Corp. II, which is expected to close in the fourth quarter of 2026 alongside the merger transaction. The company previously said it plans to list on Nasdaq under the ticker XRPN after the merger is completed.