Evernorth Completes Business Combination with Armada Acquisition Corp. II
The company said it holds about 473 million XRP and raised about $300 million in gross cash proceeds.
- On Friday, Evernorth Holdings completed its business combination with Armada Acquisition Corp, with shares set to trade on the Nasdaq Stock Market under ticker XRPN starting Monday, October 12.
- The company enters public markets holding approximately 473 million XRP and approximately $300 million in gross cash proceeds, providing investors regulated access to the XRP economy.
- Founder and Chief Executive Officer Asheesh Birla said Evernorth will deploy capital "supporting the infrastructure and use cases that expand XRP's utility," backed by Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.
- Evernorth expects to ring the Nasdaq closing bell on Wednesday, October 14, gathering company leadership, investors, and members of the XRP ecosystem to mark its public-market debut.
- Management plans to grow XRP per share through institutional and DeFi yield strategies, while ensuring operational independence and expanding the presence of XRP in capital markets.
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Evernorth’s XRP treasury goes public. Can the listing lift XRP price?
Evernorth completed its merger with Armada Acquisition Corp. II on October 9 and expects XRPN shares to start trading on Nasdaq on October 12. XRP remains near $1.40, leaving the market to distinguish an existing corporate holding from potential fresh…
PR Newswire
Evernorth Completes Business Combination with Armada Acquisition Corp. II
/PRNewswire/ -- Evernorth Holdings, Inc., (Nasdaq: XRPN), a digital asset treasury company building institutional access to the XRP economy at scale, today...
Evernorth XRPN Debuts on Nasdaq
Evernorth Holdings made its post-merger Nasdaq debut under the XRPN ticker on October 12, giving public-market investors exposure to a company built around XRP. Shares opened at $16.68 and climbed to an intraday high of $19.39 before reversing, with XRPN ultimately closing its first session at $16.91 on roughly 1.29 million shares traded. Evernorth's XRPN ...
Ripple-backed Evernorth began trading on Nasdaq with approximately 473 million XRP. While the company's shares initially rose above $19 in the first session, they couldn't maintain this gain. Closing below $17, the company presented investors with a new option offering indirect access to XRP.
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