XRP Treasury Firm Evernorth Gets SEC Nod, Eyes Nasdaq Listing

Evernorth's S-4 registration with the SEC is now effective, clearing the path for its Nasdaq listing via a SPAC merger expected to close in late Q3 or early Q4 2026.

XRP & Crypto Markets News

Evernorth Holdings is moving closer to a public stock market debut after the US Securities and Exchange Commission declared its Form S-4 registration statement effective. The registration covers a planned merger between Evernorth and Armada Acquisition Corp. II, a special purpose acquisition company, through which Evernorth intends to list on the Nasdaq.

Evernorth describes itself as a digital asset treasury company built to give public market investors regulated exposure to XRP (XRP). The company also says it deploys capital into XRP-based infrastructure and manages treasury strategies designed to grow its XRP-per-share value over time.

Asheesh Birla, Evernorth's founder and CEO, said the company is entering public markets as blockchain utility expands and institutional finance moves increasingly on-chain. He framed Evernorth's purpose as accelerating XRP's role in that shift.

Merger Terms and Investor Backing

The S-4 registers up to 34,499,992 shares of Evernorth Class A common stock and 11,499,992 warrants to be issued through the business combination. If the merger closes, the combined company is expected to trade on the Nasdaq under the ticker XRPN.