XRP Gains Attention on Nasdaq as SEC Approves XRP-Related Issue: Details Explained
Bitcoin and altcoins are driving renewed momentum across the cryptocurrency market, while positive developments are also emerging for $XRP. Evernorth Holdings, an $XRP treasury company, has moved closer to its planned Nasdaq listing after reaching another key stage in its proposed merger with Armada Acquisition Corp. II.
Evernorth’s SEC Registration Statement Takes Effect
Evernorth Holdings announced that its Form S-4 registration statement filed with the U.S. Securities and Exchange Commission (SEC) for the merger has gone into effect. Shareholders are scheduled to vote on the proposed merger with special purpose acquisition company Armada Acquisition Corp. II on September 30, 2026.
The registration statement becoming effective represents a significant milestone in the transaction and advances Evernorth’s plans to become a publicly traded $XRP-focused treasury company.
$XRP Treasury Company Could Trade Under the XRPN Ticker
If shareholders approve the merger and all other closing conditions are satisfied, the combined company is expected to trade on Nasdaq under the ticker symbol “XRPN.” The company would operate as a treasury business focused on $XRP.
Evernorth founder and CEO Asheesh Birla said, “Today is a significant milestone toward completing the business merger we proposed. Our goal was to create an actively managed $XRP treasury with the transparency and governance demanded by public markets. With the entry into force of the registration statement, we are one step closer to realizing our vision.”
Evernorth’s major investors include Ripple, SBI Group, Pantera Capital, Kraken, GSR, and Arrington Capital. The company said it has secured more than $1 billion in gross proceeds and committed capital from investors.
This is not investment advice.
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