SEC Approves XRP Treasury Merger Upon Nasdaq Listing

Ripple’s long-awaited XRP treasury is inching closer towards Wall Street launch. Evernorth, the XRP-only treasury company, has just overcome a major challenge in its proposed merger with Armada Acquisition Corp. II.

During the extraordinary general meeting on September 30, 2026, nearly 69% of all share holders casted their votes in the ground-breaking Evernorth x Armada merger proposal. This means Evernorth moves 473 million XRP to a repository upon completion.

A whopping 19,331,337 of shares voted for the implementation of this merger. The colossal 94% approval rate is acknowledged by the The United States Securities and Exchange Commission (SEC) in one of their latest legal publications.

Ultimately, this counts up to 20.51 million votes in favor of the merger proposal and just 1.36 million against it. What happens next is Evernorth’s & Armada’s mutual effort to meet the remaining requirements imposed by the SEC & potential public market debut on NASDAQ.

Earlier, the SEC declared the registration statement for the XRP- based Evernorth effective August 27,  2026. Meanwhile, the latest October 1 filing also provides details of the approval and September 30 vote of the Business Combination, Merger and Domestication Proposals.

Right now, Armada has a number of XRP-based items on the securities market. These include class A ordinary shares (XRPN) and warrants (XRPNW). The merger deal creates a new firm that trades all of the funds under XRPN ticker. The NASDAQ listing could happen by year-end.

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