The SEC declared Evernorth’s registration statement effective on August 27, advancing its planned merger with Armada Acquisition Corp. II. This decision represents a major step toward a Nasdaq listing. Armada II shareholders will vote on the transaction on September 30, 2026. The company has raised over $1 billion from institutional investors including Ripple, SBI Holdings, Pantera Capital, Kraken and Arrington Capital. If approved, the combined entity is expected to trade under the ticker XRPN on Nasdaq.
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