TREE NEWS update: Armada Acquisition Corp. II shareholders approved the merger with Evernorth on Wednesday, clearing the Ripple-backed XRP treasury company to list on Nasdaq. Led by former Ripple executive Asheesh Birla, the company is set to begin trading under the ticker XRPN on Oct. 8.
Evernorth Wins Shareholder Vote, to Trade as XRPN on Nasdaq Oct. 8
The shareholder approval shifts Evernorth from a private, Ripple-backed treasury vehicle to a listed one, giving public-market investors direct exposure to an XRP-focused balance sheet. That matters less as a crypto milestone than as a test of whether a single-asset treasury model can hold a Nasdaq listing. The open questions are how XRPN's shares trade relative to its XRP holdings after Oct. 8, and whether the structure attracts similar vehicles.
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