XRP Treasury Company Gets One Step Closer to Listing on Nasdaq
In brief The SEC declared effective Evernorth's Form S-4 registration statement on August 27, clearing Armada Acquisition Corp. II to schedule a shareholder vote on their merger.
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Key Facts
- Fact 1: In brief The SEC declared effective Evernorth's Form S-4 registration statement on August 27, clearing Armada Acquisition Corp.
- Fact 2: Armada shareholders of record as of August 20 will vote on the deal September 30; investors seeking redemption must file by September 28.
- Fact 3: Evernorth aims to become the largest publicly traded XRP treasury, but the roughly $947 million it spent on XRP last October is now worth hundreds of millions less.
- Fact 4: The SEC declared the company’s registration effective, which means it can now merge with Armada, a Nasdaq-listed special purpose acquisition company, or SPAC, and go public—if shareholders approve the deal during a vote set for September 30.
In brief The SEC declared effective Evernorth's Form S-4 registration statement on August 27, clearing Armada Acquisition Corp. II to schedule a shareholder vote on their merger.
Armada shareholders of record as of August 20 will vote on the deal September 30; investors seeking redemption must file by September 28. Evernorth aims to become the largest publicly traded XRP treasury, but the roughly $947 million it spent on XRP last October is now worth hundreds of millions less. The Securities and Exchange Commission has cleared a path for Evernoth Holdings, an XRP treasury company, to list on the Nasdaq.
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