Ripple-Backed Evernorth Brings 473M XRP to Nasdaq Under XRPN
Evernorth completed its business combination with Armada Acquisition Corp. II and is set to start trading on Nasdaq under XRPN on Monday, October 12. The company’s public vehicle holds about 473 million XRP and roughly $300 million in cash from the transaction.
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For XRP holders, market watchers, and anyone following Ripple-linked assets, the next visible step is Evernorth’s move into public trading under XRPN on Monday, October 12. That means the treasury company’s XRP holdings and cash position will be easier to track in a public-market setting than before.
In practice, the merger changes Evernorth from a SPAC target into a listed company with a stated XRP treasury and cash raised in the transaction. What stays the same is that the company still enters the market with about 473 million XRP and roughly $300 million in cash, which are the figures already attached to it.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 9 days ago | Here’s the XRP Price Gert van Lagen Sees at a $3 Trillion Valuation event | 1 actors in common · 2 news media |
| 9 days ago | Ripple’s TradFi Ambitions Grow with Wall Street Financing and Korea Deal event | 1 actors in common · 9 news media |
| 10 days ago | Crypto Exchange OKX Raises at $25 Billion From StanChart, Circle - Bloomberg.com event | 1 actors in common · 15 news media |
| 11 days ago | An XRP treasury SPAC surges nearly 300% ahead of Evernorth merger event | 1 actors in common · 6 news media |
| 15 days ago | XRP News : Armada II Shareholders Approve Evernorth XRP Treasury Deal event | 1 actors in common · 9 news media |