Evernorth plans to highlight XRP community members in a campaign leading up to its proposed Nasdaq listing. In a September 23 blog post, founder and CEO Asheesh Birla announced that the XRP treasury company intends to feature community supporters through apparel, storytelling, and a potential Times Square event tied to the listing.
Birla framed the initiative as recognition for people who supported XRP during years of legal uncertainty. He cited community contributions including building tools, assisting newcomers, and participation in the Securities and Exchange Commission's case against Ripple. According to Birla, attorney John Deaton submitted approximately 3,800 holder affidavits during the legal dispute.
Campaign Details and BearChamp Collaboration
The campaign features BearChamp, a boxing character created by Chicago artist JC Rivera. Evernorth plans apparel and a multi-chapter story around the character as it approaches the proposed listing. The company indicated that additional community figures would be introduced as part of the initiative.
Merger Timeline and Business Structure
The proposed listing would follow Evernorth's merger with Armada Acquisition Corp. II, a Nasdaq-listed special purpose acquisition company. The combined company expects to trade under the ticker XRPN if the transaction closes and meets Nasdaq listing requirements.
Armada shareholders are scheduled to vote on the merger on September 30. An August update reported that Evernorth's registration statement had become effective, clearing the way for the shareholder vote.
Evernorth's Operating Plan
Evernorth describes its business as focused on holding and actively managing XRP. The company intends to allocate capital to XRP-based infrastructure and pursue strategies designed to increase its XRP holdings per share over time.
Birla indicated that Evernorth plans to work directly with builders on the XRP Ledger, noting infrastructure developments including permissioned trading venues, native escrow, on-chain lending, and a regulated dollar stablecoin that have emerged on the ledger over the past two years.
Evernorth has a $30 million convertible-note agreement whose proceeds could support XRP purchases and other ecosystem activity, contingent on the Armada merger closing.
