Evernorth sets Sept. 30 vote for XRP treasury merger

Evernorth Holdings moved closer to becoming a Nasdaq-listed XRP treasury company on Aug. 27 after the U.S. Securities and Exchange Commission declared its Form S-4 registration statement effective. Summary The SEC declared Evernorth’s Form S-4 effective, allowing Armada shareholders to consider the proposed combination. Armada shareholders of record on August 20 will vote at September 30’s special meeting online. Investors seeking redemption must submit requests by September 28, according to the definitive proxy materials. Completion still requires shareholder approval, closing conditions, and Nasdaq’s acceptance of the planned XRPN listing. Evernorth plans active XRP treasury strategies, but growth in XRP per share remains an objective. The effectiveness allows Armada Acquisition Corp. II to send definitive proxy materials and hold a shareholder vote on Sept. 30. It does not mean the SEC has approved the merger, Evernorth’s business model or XRP as an investment. If shareholders approve the transaction and the remaining conditions are satisfied, the combined company expects to list on Nasdaq under the ticker XRPN. Evernorth said closing could follow shortly after the vote. Evernor...