XRP Treasury Firm Evernorth Says SEC Registration Is Effective, Clearing Path to Nasdaq Listing
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· body · New information from a source
The filing covers Evernorth's planned merger with SPAC firm Armada, the vehicle through which the company is seeking a listing on Nasdaq.According to CoinDesk, Evernorth is now a shareholder vote away from completing the Nasdaq listing, with the merger vote standing as the remaining step before shares can begin trading.The move follows a playbook popularized by Strategy, the company co-founded by Michael Saylor that built a public-market treasury strategy around holding Bitcoin, according to Decrypt.Evernorth's approach applies a similar corporate-treasury structure to XRP rather than Bitcoin, using a public listing to give investors exposure to the token through company shares.The SEC's clearance of the registration statement removes a regulatory step that had stood between Evernorth and its public listing, according to The Block.The remaining shareholder vote will determine whether the Armada merger proceeds and Evernorth's shares begin trading on Nasdaq.- 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.
· summary · New information from a source
Evernorth, an XRP treasury company backed by Ripple, said its SEC registration for a merger with SPAC firm Armada is now effective, leaving a shareholder vote before its Nasdaq debut.- Ripple-backed XRP treasury company Evernorth says its SEC registration for a SPAC merger is now effective, leaving a shareholder vote as the last step before a Nasdaq listing.
· headline · New information from a source
Ripple-Backed XRP Treasury Firm Evernorth Says SEC Registration Is Effective, Nears Nasdaq Listing- XRP Treasury Firm Evernorth Says SEC Registration Is Effective, Clearing Path to Nasdaq Listing
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
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.
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Story so far 3 updates
- storyXRP Treasury Firm Evernorth Clears SEC Registration, One Vote From Nasdaq Listingupdate
- storyRipple-Backed XRP Treasury Firm Evernorth Says SEC Registration Is Effective, Nears Nasdaq Listingupdate
- storyXRP Treasury Firm Evernorth Says SEC Registration Is Effective, Clearing Path to Nasdaq Listingupdate
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