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Evernorth Sets Sept. 30 Vote for XRP Treasury Merger
The SEC effectiveness lets Armada send proxy materials as shareholders prepare to vote on Sept. 30 on the proposed XRPN listing.
- On Thursday, the U.S. Securities and Exchange Commission declared effective the Form S-4 registration statement for Evernorth Holdings Inc., advancing its proposed merger with Armada Acquisition Corp. II toward a Nasdaq listing.
- Evernorth intends to merge with Armada, a special purpose acquisition company, to create a publicly traded digital asset treasury that actively manages XRP holdings to grow per-share value over time.
- Armada shareholders of record as of August 20 will vote on the business combination at a special meeting on September 30, 2026, before the combined company debuts on Nasdaq under ticker "XRPN."
- "We set out to build an actively managed XRP treasury with the transparency and governance public markets demand," said Evernorth CEO Asheesh Birla, as the company plans to deploy capital into XRP-related infrastructure.
- Completion remains subject to shareholder approval and closing conditions, and the SEC's effectiveness declaration does not constitute approval of the merger, Evernorth's business model, or XRP as an investment.
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Key points of the news: Evernorth's registration with the SEC is already effective, leaving pending a vote of shareholders of Armada Acquisition Corp. II on September 30 before listing in Nasdaq under the XRPN ticker. Ripple, Arrrington Capital, SBI Group, Panther Capital, Kraken and GSR support Evernorth, which plans to maintain XRP and invest in ecosystem-related infrastructure. The company aims to increase over time the amount of XRP that sup…
Nasdaq is set to launch its first XRP treasury soon, with Evernorth planning to invest billions in the cryptocurrency. Source: BTC-ECHO
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