$XRPN Listing Imminent: Evernorth Clears SEC Hurdle
The Securities and Exchange Commission has approved the registration of Evernorth, a San Francisco-based company that holds $XRP on its public balance sheet. The company is set to merge with Armada Acquisition Corp. II, a shell company that raised funds from investors to go public without a traditional listing.
With the SEC's clearance in place, all that remains is for Armada's shareholders to approve the deal through a vote on September 30. If successful, the combined company would trade under the ticker XRPN and list on Nasdaq by late September or October.
Ripple, closely tied to $XRP, holds a significant share of the supply and is an investor in Evernorth alongside other notable firms such as Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR. Asheesh Birla, Evernorth's founder and CEO, previously led Ripple's payments business for over a decade.