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REGULATION · STORY · XRPEvernorth Clears Path toNasdaq

XRP Treasury Firm Evernorth Says SEC Registration Is Effective, Clearing Path to Nasdaq Listing

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Evernorth, an XRP treasury company backed by Ripple, said its S-4 registration statement with the SEC is now effective, according to The Block. The filing covers Evernorth’s planned merger with SPAC firm Armada, the vehicle through which it is seeking a Nasdaq listing.

According to CoinDesk, Evernorth is now a shareholder vote away from completing the process and trading on Nasdaq. The SEC’s clearance of the registration statement removes a regulatory step that had stood between the company and its public listing.

Evernorth’s approach follows a treasury-company model most closely associated with Strategy, the firm co-founded by Michael Saylor that holds bitcoin on its balance sheet, according to Decrypt. Where Strategy built its public profile around bitcoin holdings, Evernorth is pursuing a similar structure built around XRP, with Ripple’s backing central to its positioning.

The remaining steps before a Nasdaq debut are a shareholder vote and completion of the Armada merger, per CoinDesk and The Block.

Sources: The Block, CoinDesk, Decrypt

This article is for information only and is not financial advice.

Story so far 3 updates

  1. storyXRP Treasury Firm Evernorth Clears SEC Registration, One Vote From Nasdaq Listing
  2. storyRipple-Backed XRP Treasury Firm Evernorth Says SEC Registration Is Effective, Nears Nasdaq Listing
  3. storyXRP Treasury Firm Evernorth Says SEC Registration Is Effective, Clearing Path to Nasdaq Listing
Tags: Evernorth, XRP, Ripple, Nasdaq, SEC, SPAC

Ripple US Securities and Exchange Commission Strategy

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