Evernorth is expected to begin trading on Nasdaq under the ticker XRPN on October 12, following the completion of its merger with Armada Acquisition Corp. II. The company will hold approximately 473 million XRP, making it one of the largest corporate XRP reserves. However, due to Evernorth and Ripple being identified as related parties, Evernorth's XRP holdings will continue to be accounted for using the historical cost less impairment losses method, rather than fair market value. This means that impairment losses may need to be recognized when the price of XRP falls, but cannot be automatically reversed when the price recovers. This could make the company's reported earnings and book value difficult to compare with cryptocurrency reserve companies that comply with fair value accounting standards.