Evernorth Advances Towards Nasdaq Listing with $1 Billion XRP Treasury Deal
Evernorth Holdings is moving closer to becoming a publicly traded company focused on holding XRP after the SEC approved its registration for a planned merger with Armada Acquisition Corp. II.
The deal will lead to Evernorth's listing on Nasdaq under the ticker XRPN, pending shareholder approval and other closing requirements.
Armada shareholders will vote on the deal on September 30, 2026, and upon approval, the merger will close in late Q3 or early Q4, with the new company starting to trade soon after.
Evernorth has secured more than $1 billion from major investors, including Ripple, SBI Group, Pantera Capital, Kraken, Arrington Capital, and GSR. The company plans to actively manage its XRP holdings instead of simply keeping XRP on its balance sheet.