Evernorth Set for Nasdaq Debut with XRP Treasury Merger Vote

Evernorth Holdings is moving closer to becoming a Nasdaq-listed XRP treasury company after the U.S. Securities and Exchange Commission declared its Form S-4 registration statement effective on August 27.

The SEC's declaration allows Armada Acquisition Corp. II shareholders to vote on the proposed combination at a special meeting scheduled for September 30. The vote will determine whether the combined company, which will operate under the ticker XRPN, will list on Nasdaq and close the deal.

Evernorth plans to deploy capital across XRP-related infrastructure, lending, liquidity, and other on-chain markets as part of its actively managed XRP treasury strategies. The company aims to increase XRP per share over time, but this outcome is still a management objective.