Evernorth's XRP Treasury Firm on Track for Nasdaq Listing After SEC Clearance

Evernorth's XRP treasury firm is on track to list on Nasdaq under the ticker XRPN after the SEC declared its S-4 registration effective on August 27. This clears the final regulatory hurdle for the planned listing, which will now move forward with a decisive shareholder vote scheduled for September 30.

The merger with Armada Acquisition Corp. II, a SPAC sponsored by Arrington XRP Capital, will result in the creation of a publicly traded company that will actively manage its XRP holdings to increase value and participate in the broader XRP ecosystem. Evernorth currently holds 473,276,430 XRP, worth around $672.3 million, making it the largest publicly traded corporate holder of XRP.

The company plans to fund XRP-related infrastructure and projects tied to tokenized assets, on-chain credit, and settlement systems through its active management strategy. If approved, closing would follow shortly after the shareholder vote, with the combined company seeking Nasdaq admission under XRPN by late Q3 or early Q4.