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Evernorth nears Nasdaq listing as XRP treasury company after SEC clears merger proxy filing.

Market News
28 Aug 2026, 07:49 WIB
Crypto news
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Bullish
Evernorth nears Nasdaq listing as XRP treasury company after SEC clears merger proxy filing.

The U.S. SEC declared Evernorth Holdings' Form S-4 registration effective, allowing Armada Acquisition Corp. II shareholders to vote on the proposed merger on September 30, 2026. This merger would create a Nasdaq-listed company under the ticker XRPN, focused on actively managing an XRP treasury. While the SEC's clearance permits the proxy solicitation, it does not imply approval of the merger or XRP as an investment. Completion depends on shareholder approval, closing conditions, and Nasdaq listing acceptance. Evernorth aims to grow XRP holdings per share through lending and liquidity strategies, with backing from major crypto investors like Ripple and Pantera Capital. Redemption requests must be submitted by September 28, and the final cash proceeds depend on redemptions and financing commitments. The vote is the next key step toward closing the deal and listing on Nasdaq.

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