Evernorth XRP Treasury Clears Key Hurdle on Road to Nasdaq Listing
The XRP community is abuzz with excitement as Evernorth Holdings, an XRP treasury company, takes another significant step towards its Nasdaq listing goal. The US Securities and Exchange Commission (SEC) has approved Evernorth's Form S-4 registration filing for a merger with Armada Acquisition Corp. II, paving the way for the company to list on the Nasdaq under the ticker symbol 'XRPN'. This marks a major milestone in the merger process, provided the shareholders approve the deal and other closing conditions are met.
Evernorth founder and CEO Asheesh Birla stated that this development brings them closer to realizing their vision of creating an actively managed XRP treasury with transparency and governance demanded by public markets. The company has secured over $1 billion in gross proceeds and committed capital from investors, including major names like Ripple, SBI Group, Pantera Capital, Kraken, GSR, and Arrington Capital.
The merger vote is scheduled for September 30, 2026, and if approved, the resulting company will trade on Nasdaq with a focus on XRP. This development has significant implications for the XRP community, as it could lead to increased transparency and governance, as well as access to public markets.