Shareholders of Armada Acquisition Corp. II, the SPAC seeking to merge with XRP treasury company Evernorth Holdings, have until 5 p.m. Eastern on Sept. 28 to request redemption of their public shares. The merger vote is scheduled for Sept. 30. Each redeemed share removes cash that Evernorth could otherwise consider for future XRP purchases after the closing. Armada's trust held approximately $241.9 million on Aug. 20, with a separate $30 million financing agreement contingent on the merger closing, which Evernorth may use for purposes other than buying XRP.