Evernorth plans to raise $30 million through convertible preferred PIK notes, with NH Investment & Securities subscribing

Odaily News: Evernorth has signed a note purchase agreement with NH Investment & Securities to issue convertible preferred PIK notes maturing in 2031 with a 4% interest rate. The transaction is contingent upon the completion of its business combination with Armada Acquisition Corp. II, Pathfinder Digital Assets, and Ripple Labs, and is expected to close in the fourth quarter; the combined new entity plans to list on Nasdaq under the ticker symbol XRPN, subject to exchange approval. Evernorth is an XRP treasury company.