$XRP Treasury Firm Evernorth Nears Nasdaq Listing After SEC Approval

Evernorth Holdings Inc.'s path to listing on the Nasdaq has moved closer after the U.S. Securities and Exchange Commission (SEC) declared its Form S-4 effective.

The development clears the way for an Armada II shareholder vote on September 30, with holders of record as of August 20 eligible to participate.

Armada II is a Nasdaq-listed Special Purpose Acquisition Company (SPAC) that plans to merge with Evernorth and take the $XRP treasury company public.

The original registration statement described an $XRP-focused public company backed by institutional investors, including Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR.