XRP treasury firm Evernorth says SEC registration now effective, clearing way for Nasdaq listing

Evernorth, described as an XRP treasury firm, said its S-4 registration statement with the U.S. Securities and Exchange Commission has become effective. The effective registration clears a key procedural step in Evernorth’s planned merger with special purpose acquisition company Armada.

The transaction is intended to take Evernorth public through a merger with Armada, with the company seeking a Nasdaq listing. An S-4 registration statement is generally used for securities offerings connected to business combinations, including mergers involving publicly traded companies or SPACs.

The development moves the proposed deal further through the U.S. public-market process, though the merger remains subject to the steps and conditions required to complete the transaction. A Nasdaq listing would give Evernorth access to a broader public-market investor base if the deal closes and the listing is completed. XRP is the cryptocurrency associated with the XRP Ledger, a blockchain network used for transferring and settling digital assets.