XRP Treasury Evernorth Closes in on Nasdaq Debut
XRP treasury firm Evernorth Holdings has taken another step towards becoming a publicly traded company. The US Securities and Exchange Commission (SEC) declared effective the registration statement for its proposed business combination with Armada Acquisition Corp. II.
The approval clears the way for Armada shareholders to vote on the transaction at a special meeting scheduled for September 30. If approved, the combined company is expected to list on Nasdaq under the ticker symbol XRPN.
Evernorth's founder and CEO Asheesh Birla said the milestone brings them closer to completing their proposed business combination. The company plans to hold and actively manage an XRP treasury while allocating capital to XRP-based infrastructure.
Birla stated that Evernorth is building an actively managed XRP treasury with the transparency and governance public markets demand. Unlike other digital asset treasury companies, Evernorth's model will involve actively managing its XRP holdings and deploying capital across the broader XRP economy.