Evernorth Merger Clears Regulatory Hurdle, Sets Stage for XRP Listing
Evernorth's merger with Armada Acquisition Corp. II (Nasdaq: XRPN) has moved closer to completion after the SEC cleared a key regulatory step. The registration statement became effective, allowing the companies to proceed with a shareholder vote on September 30.
The vote is crucial for Evernorth's plan to list on Nasdaq under the ticker XRPN and actively manage XRP. Asheesh Birla, founder and CEO of Evernorth, said the milestone marks an important step towards completing their proposed business combination.
Evernorth plans to deploy capital through XRP lending, liquidity provision, decentralized finance, and broader ecosystem participation. The company is also working with t54, a financial technology firm that provides verification, risk, and compliance tools for AI-powered transactions.