Evernorth files for SPAC merger to list on Nasdaq, build strategic XRP reserve

Evernorth, a crypto venture strategically backed by Ripple, has submitted an S-4 merger application with special purpose acquisition company (SPAC) Armada Acquisition to the U.S. SEC, the Financial Times reported. If the merger is successful, the company will be listed on Nasdaq under the ticker XRPN. Evernorth previously announced plans to raise over $1 billion through the merger and SPAC listing to build a strategic reserve of XRP.