SEC Clears Evernorth's Path for Nasdaq Listing as XRP Treasury Firm

The SEC has cleared Evernorth's Form S-4 registration statement for its proposed merger with Armada Acquisition Corp. II, moving the company closer to becoming a publicly traded XRP treasury firm.

With this clearance, the proposed business combination is now a priority for a Sept. 30 shareholder vote, where Armada shareholders will decide on the transaction and redemption of shares by submitting requests before Sept. 28.

If approved, the combined company will be listed on the Nasdaq under the ticker XRPN, with Evernorth expecting gross proceeds from the transaction to exceed $1 billion, subject to change.