Evernorth Holdings, a Ripple-backed XRP treasury company, has amended its registration statement with the U.S. Securities and Exchange Commission, as the company approaches a merger with Armada Acquisition Corp II. Additionally, the company has appointed the CFO of OpenAI and the COO of Nasdaq-listed Antalpha to its board of directors. Updates on Evernorth Holdings' business merger file (XRP Treasury Evernorth Holdings)

Evernorth Holdings has filed a second amendment to its registration statement (Form S-4) with the U.S. Securities and Exchange Commission. This amendment supports the proposed merger with Armada Acquisition Corp 2, a special purpose acquisition company sponsored by Arlington XRP Capital Fund LP.

The merger aims to create the largest publicly traded XRP asset management company, with access to the XRP ecosystem. Evernorth has raised over $1 billion in total proceeds and plans to list under the ticker "XRPN" on Nasdaq.

The company's institutional and strategic investor list includes Arlington Capital, Ripple, SBI Holdings, Pantera Capital, and Kraken. Ripple contributed 126,791,458 XRP tokens to the company. The company is expected to initiate initial investments of at least 473,276,430 XRP tokens.

Evernorth awaits SEC approval of the registration statement, which is still under review and comment. The proposed merger also seeks shareholder approval from Armada Acquisition II.

Evernorth Holdings announced the appointment of new board members
As the XRP treasury Evernorth advances toward the merger, it has nominated OpenAI CFO Robert Kaiden and Antalpha COO Derrar Eslim for board membership.

Ted Janos, Robert Kaiden, and Derrar Eslim will serve as "independent directors," according to Nasdaq rules. As previously reported by CoinGape, Stewart Aldertoti, Chief Technology Officer at Ripple, was appointed to its board.

The latest amendment also included a proxy card template for attending the special general meeting of shareholders of the SPAC (SPAC). It also referenced the approval by Deloitte & Touche and CBIZ, Inc., as independent accounting firms, for Evernorth Holdings.

The nominations of Robert Kaiden and Derrar Eslim to the board bring extensive expertise in financial auditing and other financial matters. Eslim’s career path combines traditional Wall Street experience with leadership in the emerging digital assets space.

CEO Ashish Beryla, a former Ripple executive, confirmed that Evernorth will contribute to broader institutional adoption of XRP. He praised the guidance of the SEC and the CFTC, which classify some digital assets, including XRP, as digital commodities 📈❤️❤️❤️❤️🌟🌟💯💯💫💫💫