Evernorth Clears Hurdle to List on Nasdaq with Massive XRP Holdings

Evernorth's XRP-focused treasury company is one step closer to trading on Nasdaq after shareholders of Armada Acquisition Corp. II approved the proposed business combination.

The deal, which will see Evernorth trade under the ticker XRPN, has been cleared by Armada Acquisition Corp. II shareholders, paving the way for its listing on the exchange.

According to SEC filings, Evernorth is expected to have at least 473.27 million XRP when the transaction closes, with a portion of this amount coming from Ripple and other related-party contributions.

The company plans to use part of its treasury across yield strategies, XRP infrastructure, and capital-market activity, aiming to increase XRP exposure per share over time.