Evernorth Stockholder Vote Approves Go-Public Merger, Setting Stage for Largest XRP Corporate Treasury

Evernorth shareholders voted to approve the company's go-public merger, with the vote passing and the transaction moving forward. The merged company is projected to hold at least 473.3 million XRP upon closing, according to an investor slide deck cited in reporting on the deal. If realized, this would represent the largest known corporate XRP treasury in existence.

The funding behind the deal includes over $1.1 billion in committed capital sourced from Ripple, SBI Holdings, and additional institutional investors. The structure involves an SBI-backed special purpose acquisition company merger, a route that allows Evernorth to access public markets. The combined company is also expected to pursue a separate $30 million financing arrangement as part of the overall transaction.

The ticker symbol for the combined public entity is reported to be XRP, adding a layer of brand alignment with the underlying asset. SBI Holdings, a major Japanese financial group and long-standing Ripple partner, is a key institutional backer in the deal, lending it significant credibility within the XRP ecosystem.

Key facts to watch as this develops include the official closing date of the merger, final confirmation of the XRP holdings figure, and any regulatory filings that accompany the public listing. The scale of committed capital and the size of the projected XRP position make this a notable institutional development for the broader XRP market.