The rise of Bitcoin and altcoins is fueling the market, and positive trends are also observed for $XRP. In this context, Evernorth, the company managing $XRP, has taken another step toward listing its SPAC on Nasdaq. Thanks to this event, Evernorth has completed another crucial stage on its path to achieving its goal—listing on Nasdaq.
Evernorth Holdings, the company managing $XRP, announced that its registration statement on Form S-4 filed with the U.S. Securities and Exchange Commission (SEC) regarding the merger with the special purpose acquisition company Armada Acquisition Corp. II has become effective. A shareholder vote on the merger with Armada Acquisition Corp. II is scheduled for September 30, 2026.
Expectations for $XRP to Be Listed as a Treasury Company!
This event marks a significant milestone in the merger process and paves the way for Evernorth to enter the Nasdaq exchange.
At this stage, subject to shareholder approval of the merger and the fulfillment of other closing conditions, the resulting company is expected to trade on Nasdaq under the ticker "XRPN" as a treasury company focused on $XRP.
Evernorth Founder and CEO Ashish Birla stated: "Today is an important milestone on the path to completing our proposed merger. Our goal has been to create an actively managed $XRP treasury with the transparency and governance required by public markets. With the registration statement becoming effective, we are one step closer to realizing our vision."
Major investors in Evernorth include Ripple, SBI Group, Pantera Capital, Kraken, GSR, and Arrington Capital. The company stated that it has raised over $1 billion in gross proceeds and committed capital from investors.
*This is not investment advice.
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