XRP treasury company Evernorth Holdings plans to issue $30 million in convertible notes, for purposes including increasing its XRP holdings.

BlockBeats news, September 18: U.S. stock market XRP treasury company Evernorth Holdings filed an 8-K with the SEC. Evernorth signed a subscription agreement with a trust under South Korea's NH Investment & Securities to issue $30 million in convertible senior PIK notes with a 4% annual interest rate maturing in 2031. The notes' effectiveness is conditional on the completion of the company's merger with SPAC Armada Acquisition Corp. II, which is expected to be completed in Q4 2026. The proceeds will be used to purchase XRP and participate in XRP ecosystem-related businesses.