Evernorth aims to provide regulated tools for public market investors seeking XRP exposure, plans to actively deploy capital into XRP-based infrastructure, and increase XRP holdings per share through treasury strategies. Asheesh Birla, founder and CEO of the company, stated plans to enter the public market as blockchain utility continues to grow. The SPAC merger is expected to close by the end of the third quarter or early fourth quarter of this year, subject to shareholder approval. Evernorth's investors include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR, among others. If the merger is completed, the combined company is expected to trade under the ticker "XRPN" on Nasdaq.