Armada Acquisition II’s Evernorth agrees to issue $30 million convertible senior notes in business-combination financing

AACI•2026-09-17

Closing tied to planned business combination

Closing is conditioned on, and expected to occur alongside, the previously announced business combination targeted for Q4 2026.

Evernorth to issue $30 million convertible senior notes

Armada Acquisition Corp. II disclosed a $30 million issuance of 4.00% Convertible Senior PIK Notes due 2031 by Evernorth Holdings.

The notes were agreed under a note purchase agreement signed Sept. 11, 2026 with NH Investment & Securities as trustee for Kyobo AIM trust.

Sources

Armada Acquisition II’s Evernorth agrees to issue $30 million convertible senior notes in business-combination financing

Sec

Armada Acquisition II’s Evernorth agrees to issue $30 million convertible senior notes in business-combination financing

Closing tied to planned business combination

Evernorth to issue $30 million convertible senior notes

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Armada Acquisition II’s Evernorth agrees to issue $30 million convertible senior notes in business-combination financing

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