Evernorth Files Seventh SEC Amendment, Advancing XRP Treasury Company Toward Nasdaq Listing
Ripple's XRP treasury vehicle, Evernorth, has filed its seventh amendment to an S-4 registration statement with the SEC as it works toward merging with Armada Acquisition Corp and listing on Nasdaq under the ticker XRP. A Ripple-created subsidiary named Pathfinder was established to hold XRP and facilitate an in-kind contribution into Evernorth. This would make Evernorth the first publicly traded XRP treasury company.
Evernorth, the XRP treasury vehicle tied to Ripple, has submitted amendment number seven to its S-4 filing with the U.S. Securities and Exchange Commission. The filing advances the company's merger with Armada Acquisition Corp, a process that would culminate in a Nasdaq listing under the ticker symbol XRP.
Ripple created a subsidiary called Pathfinder last year specifically to hold XRP on its balance sheet. The structure is designed to allow Ripple to move those holdings into Evernorth through an in-kind contribution once the regulatory process is complete.
If the listing proceeds, Evernorth would become the first publicly traded company structured primarily as an XRP treasury vehicle, a milestone that would give traditional equity investors direct exposure to XRP through a Nasdaq-listed security.
The repeated amendment cycle reflects ongoing back-and-forth with SEC staff, which is standard for complex merger registrations but also signals that the process is still subject to regulatory review before any listing can occur.
Key facts
- •Evernorth filed amendment number seven to its S-4 with the SEC
- •Evernorth is Ripple's XRP treasury vehicle merging with Armada Acquisition Corp
- •Target listing is on Nasdaq under the ticker XRP
- •Ripple created a subsidiary called Pathfinder to hold XRP
- •Pathfinder is designed to contribute XRP in-kind into Evernorth
- •Would be the first publicly traded XRP treasury company