Add as a preferred source on GoogleEvernorth Completes SPAC Merger With 473 Million XRP Treasury
The Ripple-backed company also brings $300 million in cash into the publicly traded vehicle and expects to begin Nasdaq trading Monday under XRPN.
Evernorth completed its business combination with Armada Acquisition Corp. II on Oct. 9, creating a publicly traded XRP treasury vehicle holding roughly 473 million XRP and $300 million in cash.
The transaction brings the combined assets into a Nasdaq-listed structure, giving Evernorth a public-market vehicle focused on XRP holdings.
Evernorth is expected to begin trading on Nasdaq under the ticker XRPN on Monday, Oct. 12. The listing will follow the completion of the SPAC transaction, which combines a private company with a publicly traded shell.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.