Did Armada II shareholders approve the business combination with Evernorth?

The full answer

Did the shareholders approve the deal?

Yes. Armada Acquisition Corp. Armada Acquisition Corp. II shareholders approved the business combination with Evernorth Holdings Inc. at the extraordinary general meeting on September 30, 2026. Armada Acquisition Corp. Armada Acquisition Corp. II’s 8-K reporting the vote results says: “Based on the votes set forth above, the Merger Proposal was approved.” [1]" [1] The 8-K still calls the related transactions “Proposed Transactions,” so it establishes shareholder approval, not closing. FXStreet had reported on August 28, 2026 that the vote was scheduled for a special meeting on September 30 [3]. A company press release of October 1 also reports the approval [2].

What were the vote counts?

The 8-K gives the business combination proposal 20,514,034 votes for and 1,362,081 against. The merger proposal received 20,514,597 for and 1,362,089 against [1]. The 8-K also records approval of the company’s domestication from a Cayman Islands exempted company to a Delaware corporation to be named Arrington Capital SPAC I Inc. [1]

PrimeXBT reported on October 1, 2026 that 21,877,045 shares, about 69% of those entitled to vote, were cast, and that roughly 94% of votes cast backed the proposal [4]. The 8-K figures fit that turnout: 20,514,034 for, 1,362,081 against and 930 not voted add up to 21,877,045. PrimeXBT’s own “for” figure of 19,331,337 does not fit its total, so I use the 8-K count. The 94% matches the 8-K figures (20,514,034 of 21,876,115 votes for and against), by my arithmetic.

Does approval mean the deal has closed?

No. The 8-K still calls the related transactions “Proposed Transactions,” so it establishes approval, not closing [1]. The 8-K itself still calls the related transactions “Proposed Transactions,” so it establishes shareholder approval, not closing [1]. Evernorth’s own March 18, 2026 release described the combination as one “to be completed” [6]. As of October 6, 2026, no closing has been reported.

What does this change for XRP?

The vote is a corporate step for a company that plans to hold XRP, and it is not by itself new XRP buying. For what Evernorth is and what it holds, see what Evernorth is, who backs it and how much XRP it holds. For the effect of a listing on XRP demand, see what Evernorth’s Nasdaq listing changes. Reports around the vote call the combined company the largest publicly traded pure-play XRP treasury, which is PrimeXBT’s description and not an independent measure [4].

What is the counter-view?

A shareholder vote shows the SPAC’s holders agreed to the terms. It does not show demand for XRP. A concentrated holder base is also a risk for any XRP-linked vehicle, which is covered in who owns the most XRP and in whether an XRP treasury company could be forced to sell.