Evernorth Signs Note Purchase Agreement for 4% Convertible PIK Notes Due 2031

Evernorth has signed a note purchase agreement with NH Investment & Securities to issue 4% convertible preferred PIK notes due 2031. According to Odaily, the transaction is contingent on Evernorth completing its business combination with Armada Acquisition Corp. II, Pathfinder Digital Assets, and Ripple Labs, which is expected in the fourth quarter. The combined entity plans to list on Nasdaq under the ticker XRPN, subject to exchange approval. Evernorth is an XRP treasury company.