Evernorth's Nasdaq Merger Plan Clears SEC Hurdle

Evernorth's plan to merge with Armada Acquisition Corp. II and list on Nasdaq as XRPN is moving forward after the SEC declared its Form S-4 registration statement effective.

The combined company, which will focus on XRP-related activities, is expected to receive over $1 billion in gross proceeds and committed capital from investors including Ripple, Pantera Capital, SBI Group, and Kraken.

Shareholders will vote on the merger plan on September 30. If approved, the new company will list on Nasdaq under the ticker XRPN.