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XRP Treasury Firm Evernorth to Issue $30 Million in Bonds, Partly to Buy XRP

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Odaily News: According to an 8-K filing disclosed by the U.S. SEC, XRP treasury company Evernorth Holdings signed a bond purchase agreement with NH Investment & Securities on September 11 to issue convertible senior notes with an aggregate principal amount of $30 million to an investment trust it represents, with an annual interest rate of 4%, maturing in 2031.

The notes pay interest in kind (PIK), which can be added to the bond principal. The proceeds are intended for general corporate purposes, including purchasing XRP and conducting XRP ecosystem-related business.

The bond issuance is subject to the completion of a business combination between Evernorth and special purpose acquisition company Armada Acquisition Corp. II, and is expected to close concurrently with the merger transaction in the fourth quarter of 2026. The company previously said that after the merger is completed, it plans to list on Nasdaq under the ticker symbol XRPN.

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.