Evernorth Clears Nasdaq Listing Hurdle Amid Soaring XRP Treasury

Evernorth, an XRP treasury company, has cleared another hurdle on its path to listing on Nasdaq. Shareholders have approved the merger with Armada Acquisition Corp. II, a key step towards the listing.

The deal is expected to close on October 7 and trading will begin under the ticker XRPN on October 8. The merger is projected to generate around $300 million in gross cash proceeds.

Evernorth holds approximately 347 million XRP ahead of closing, with an expected total of 473 million at closing, including XRP contributed by investors. This would make it one of the largest XRP treasuries.

According to Evernorth CEO Asheesh Birla, going public will give investors access to XRP through a regulated and transparent route.