08.04.2026 11:17

Here's a rewritten version of the news article, incorporating the key details and using varied sentence structures, while avoiding the specified website references:

Evernorth Holdings, a treasury focused on XRP, is rapidly approaching a significant milestone as it moves closer to a merger with Armada Acquisition Corp II. A recent filing with the U.S. Securities and Exchange Commission (SEC) signals substantial headway in this planned business combination, positioning the entity to become the largest publicly traded XRP treasury. This strategic move, backed by Ripple, aims to provide broader exposure to and bolster the XRP ecosystem.

The amended Form S-4 registration statement, submitted to the SEC on April 7th, outlines the progression towards the merger with Armada Acquisition Corp II, a special purpose acquisition company supported by Arrington Capital. Upon completion, Evernorth anticipates listing on the Nasdaq exchange under the ticker symbol "XRPN," representing a considerable step for the XRP community. To date, the company has secured over $1 billion in gross proceeds, demonstrating strong investor confidence.

A diverse group of institutional and strategic investors are fueling Evernorth’s growth, including prominent firms like Arrington Capital, Ripple, SBI Holdings, Pantera Capital, and Kraken. Notably, Ripple itself has contributed a substantial holding of 126,791,458 XRP to the treasury. While the SEC’s final approval of the registration statement is still pending and subject to ongoing review, Evernorth is also seeking the endorsement of Armada Acquisition Corp II shareholders.

Further strengthening its leadership team, Evernorth has announced the nomination of Stuart Alderoty, Ripple’s Chief Legal Officer, to its board of directors. Alongside Alderoty, Ted Janus of J Capital will also join the board. The recent filing also addressed updates related to the limited liability company agreement of Pathfinder Digital Assets LLC, and confirmed consent from Deloitte & Touche and Brownstein Hyatt Farber Schreck, acting as counsel for Evernorth Holdings. Alderoty’s inclusion is particularly significant, bringing a wealth of experience in navigating the complexities of cryptocurrency regulation and policy.

Asheesh Birla, Evernorth’s CEO and a former executive at Ripple, has articulated the company’s vision beyond simple price appreciation. He emphasizes that Evernorth is designed to actively cultivate broader institutional adoption of XRP, fostering a more robust and sustainable ecosystem. The timing of these developments suggests a concerted effort to capitalize on growing institutional interest in the digital asset.



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