Evernorth Delays XRPN Nasdaq Debut to October 12

Evernorth confirmed the schedule shift in an October 6 update, noting that the procedural delay does not compromise the underlying transaction. Armada shareholders previously signaled their support for the merger during an extraordinary general meeting on September 30, clearing a critical regulatory milestone. The combined entity, operating as Evernorth Holdings Inc., expects to hold approximately 473 million XRP upon completion, positioning itself as the largest publicly traded pure-play XRP treasury company.

The transaction is set to generate roughly $300 million in gross cash proceeds, drawn from private placements, convertible note financing, and existing trust assets. Evernorth CEO Asheesh Birla emphasized that the public listing aims to provide a regulated, transparent vehicle for investors to gain exposure to XRP and the broader blockchain economy. While the SEC declared the company's Form S-4 registration statement effective in August, the final listing remains subject to customary closing conditions and exchange requirements.