Ripple-Backed Evernorth Holdings Files for Nasdaq IPO with $1B Plan

Evernorth Holdings, a Ripple-backed XRP treasury firm, filed a registration statement with the SEC to go public on Nasdaq through a merger with Armada Acquisition Corp. II. The combined entity will be called Evernorth Holdings and trade under the ticker "XRPN" for common shares and "XRPNW" for public warrants. The company aims to offer investors liquid, transparent exposure to XRP and has raised over $1 billion in gross proceeds to create the largest public XRP treasury company on Nasdaq.