Evernorth SEC Registration Effective, Plans to Go Public via SPAC Merger on Nasdaq

Evernorth Holdings announced that its S-4 registration statement submitted to the U.S. SEC is now effective, planning to go public on Nasdaq through a merger with special purpose acquisition company Armada Acquisition Corp. II. The effectiveness of the registration does not mean that the merger is complete, as the transaction still requires shareholder approval. As a regulated digital asset treasury company, Evernorth aims to provide public market investors with exposure to XRP and invest funds into XRP-related infrastructure and treasury strategies to increase the corresponding number of XRP per share. The merger is expected to be completed by the end of the third quarter or the beginning of the fourth quarter of this year, with the merged company planning to trade under the ticker symbol "XRPN". The S-4 document involves up to 34,499,992 shares of Evernorth Class A common stock and 11,499,992 related warrants. Evernorth's investors include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR.

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