The rise in Bitcoin and altcoins is energizing the market, and positive developments are also occurring for XRP. In this context, XRP treasury company Evernorth has taken another step closer
The rise in Bitcoin and altcoins is energizing the market, and positive developments are also occurring for XRP. In this context, XRP treasury company Evernorth has taken another step closer to a Nasdaq SPAC listing. With this development, Evernorth has completed another important stage in its journey towards its Nasdaq listing goal.
XRP treasury company Evernorth Holdings announced that its Form S-4 registration filing with the U.S. Securities and Exchange Commission (SEC) for a merger with special purpose acquisition company Armada Acquisition Corp. II has gone into effect. A shareholder vote on the merger with Armada Acquisition Corp. II is scheduled for September 30, 2026.
This development marks a significant milestone in the merger process and paves the way for Evernorth’s Nasdaq target.
At this point, provided the merger is approved by the shareholders and other closing conditions are met, the resulting company is expected to trade on Nasdaq under the ticker symbol “XRPN” as an XRP-focused treasury company.
Evernorth founder and CEO Asheesh Birla said, “Today is a significant milestone toward completing the business merger we proposed. Our goal was to create an actively managed XRP treasury with the transparency and governance demanded by public markets. With the entry into force of the registration statement, we are one step closer to realizing our vision.”
Evernorth’s major investors include Ripple, SBI Group, Pantera Capital, Kraken, GSR, and Arrington Capital, and the company stated that it has secured over $1 billion in gross proceeds and committed capital from investors.
*This is not investment advice.
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