Home / Business and Economy / Evernorth Set for XRPN Listing Amidst Shareholder Approval
Evernorth Set for XRPN Listing Amidst Shareholder Approval
3 Oct
Summary
- Shareholders approved Evernorth's business combination with Armada II.
- Evernorth expects to hold 473 million XRP at closing.
- Trading under XRPN on Nasdaq is expected to commence October 8, 2026.
Armada Acquisition Corp. II shareholders have approved the business combination with Evernorth, paving the way for its public listing. The deal is expected to close on October 7, 2026, with trading of XRPN on Nasdaq scheduled to begin the following day. Evernorth anticipates holding approximately 473 million XRP after the transaction.
This combination represents a significant milestone for Evernorth, which aims to become the largest publicly traded pure-play XRP treasury company. The company, supported by investors like Ripple and Pantera Capital, plans to grow XRP per share through yield strategies and ecosystem participation on the XRP Ledger.
Asheesh Birla, Evernorth's CEO, highlighted that the public listing provides a regulated and transparent method for investors to gain XRP exposure. XRPN shares will represent equity in the combined company, with their value fluctuating with XRP's market price and Evernorth's treasury strategies.
While the shareholder vote clears a major hurdle, the transaction is still subject to remaining closing conditions. The Securities and Exchange Commission has reviewed the registration statement but has not approved or disapproved the deal's merits. Investors should be aware of potential risks, including XRP volatility and regulatory changes.
