Evernorth Clears SEC Hurdle for XRP-Focused Nasdaq Listing
Evernorth, a digital asset treasury built around institutional access to the XRP economy, has cleared an SEC milestone in its path towards listing on the Nasdaq under the ticker “XRPN”. The company announced that the U.S. Securities and Exchange Commission (SEC) has declared effective the registration statement on Form S-4 relating to their proposed business combination with Armada Acquisition Corp. II.
Effectiveness of the S-4 registration statement clears the way for Armada to hold a special shareholder meeting on September 30, 2026, where shareholders will vote on the business combination. Asheesh Birla, founder and CEO of Evernorth, called the development an important step toward completing the deal.
Evernorth's model differs from earlier treasury companies in that it holds XRP and actively participates in the XRP economy by allocating capital to XRP-based infrastructure. The company plans to grow XRP per share over time through yield strategies, ecosystem participation, and capital markets activity.