Evernorth may be just a few days away from officially listing on Nasdaq, as it has nearly completed all steps necessary for the major event.
While the leading XRP treasury firm has officially secured approval from the U.S. SEC just after Armada shareholders embraced its business combination proposal, latest reports show that a listing date is now in view for Evernorth's upcoming Nasdaq debut.
Evernorth's XRPN expected to list on October 8
Following its relentless pursuit to become a publicly traded XRP treasury company, Evernorth has successfully completed a key shareholder vote and filed additional documents with the SEC.
A few months ago, Evernorth had initially filed its Form S-4 registration statement with the SEC, leaving shareholder approval and other closing requirements among the final steps toward the public listing.
With the recent shareholder approval, the Evernorth–Armada business combination represents a stepping stone to its Nasdaq debut, as the transaction is expected to close on October 7.
Upon the close of the transaction, shares of the combined company are expected to begin trading on Nasdaq on October 8. Nonetheless, it is important to note that the shares, which will be listed under the XRPN ticker, are subject to the completion of the remaining closing conditions.
Evernorth to top its balance sheet with 473 million XRP
Furthermore, Evernorth has declared that it expects to hold up to 473 million XRP on its balance sheet following the close of the transaction.
If this happens, the company believes it would emerge as the largest publicly traded XRP treasury company, fortifying its presence in the crypto ecosystem.
While investors have also contributed their XRP holdings to the transaction, the transaction is expected to provide Evernorth with about $300 million in gross cash proceeds.