The SEC declared effective the S-4 form filed by Evernorth for its merger with SPAC Armada Acquisition Corp. II, clearing the way for a shareholder vote on September 30. If approved, the XRP treasury company is expected to list on the Nasdaq under the ticker XRPN at the end of the third quarter or early in the fourth. Investors include Ripple, SBI Group, Pantera Capital, Kraken, Arrington Capital and GSR. XRP currently trades around $1.42 with a market capitalization of approximately $91.6 billion, ranking fifth worldwide. This SEC decision does not constitute approval of the merger itself.
Source: Read the original article
