Choose Rich Live
Crypto News

Evernorth completes SPAC merger ahead of Nasdaq listing under XRPN

XRP treasury company Evernorth has completed its merger with Armada Acquisition Corp. II, bringing 473 million XRP and $300 million in gross cash proceeds to public markets ahead of its Nasdaq debut.

Graphic announcing Evernorth's Nasdaq listing under the ticker XRPN
Image: @Crypto_Briefing

Evernorth, a Ripple-backed XRP treasury firm, has completed its special purpose acquisition company (SPAC) merger with Armada Acquisition Corp. II. The transaction introduces approximately 473 million XRP and roughly $300 million in gross cash proceeds before expenses into the public markets.[2][3][5][6][7]

The company expects its shares to begin trading on Nasdaq under the ticker XRPN on Monday, October 12. According to Crypto Briefing, the public debut could accelerate institutional adoption and spur innovation within the XRP ecosystem while expanding Evernorth's market presence.[1][3][4][6][7]

CoinGape reported that Evernorth's 473 million XRP reserve is valued at approximately $230 million. With the treasury assets and newly secured cash proceeds, the company plans to deploy capital into XRP lending, liquidity provision, decentralized finance, tokenization, and blockchain infrastructure.[5]

Key facts

  • Evernorth has completed its SPAC merger with Armada Acquisition Corp. II.
  • The transaction brings roughly 473 million XRP and $300 million in gross cash proceeds into public markets.
  • Shares are expected to begin trading on Nasdaq under the ticker XRPN on Monday, October 12.
  • Evernorth is backed by Ripple, according to Cointelegraph and Coin Bureau.
  • Evernorth's 473 million XRP is worth approximately $230 million, according to CoinGape.
  • The company plans to deploy funds into XRP lending, liquidity provision, DeFi, tokenization, and blockchain infrastructure.

Sources 路 7 sources

  1. CN

    crypto.news@cryptodotnewsPost on X 路

    JUST IN: Evernorth has completed the SPAC merger with 473M $XRP in treasury The deal also brings in about $300M in gross cash proceeds, with the XRP-focused treasury company expected to begin trading on Nasdaq under the ticker XRPN on Monday. https://t.co/ucm95c0gEP

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X 路

    馃敟馃毃 JUST IN: Ripple-backed XRP treasury Evernorth just closed its SPAC merger, dragging 473M XRP and $300M cash onto Nasdaq with XRPN set to trade Monday. https://t.co/jNPDSZUrdY

    Open source
  3. CB

    Crypto Briefing@Crypto_BriefingPost on X 路

    馃搱NEW: Evernorth completes its merger with Armada Acquisition Corp. II, entering the public markets with about 473M ripple:native and $300M in gross cash proceeds. The XRP treasury company expects to begin trading on Nasdaq on Oct. 12 under the ticker XRPN. https://t.co/06pi2ub9jr

    Open source
  4. CB

    Crypto BriefingArticle 路

    XRP treasury firm Evernorth completes deal to list under XRPN Evernorth's public listing under XRPN could accelerate institutional adoption and innovation within the XRP ecosystem, enhancing its market presence. The post XRP treasury firm Evernorth completes deal to list under XRPN appeared first on Crypto Briefing .

    Open source
  5. CO

    CoinGape@CoinGapeMediaPost on X 路

    馃毃 饾棖饾棓饾棥 饾棙饾棭饾棙饾棩饾棥饾棦饾棩饾棫饾棝 饾棖饾棝饾棓饾棥饾棜饾棙 饾棫饾棝饾棙 饾棜饾棓饾棤饾棙 饾棛饾棦饾棩 饾棲饾棩饾棧? @evernorthxrp has completed its merger with Armada Acquisition Corp. II, preparing to list on Nasdaq under ticker XRPN on October 12. With 473 million XRP worth approximately $230 million and $300 million in gross cash proceeds before expenses, the company plans to deploy capital into XRP lending, liquidity provision, DeFi, tokenization, and blockchain infrastructure. 馃敆Know More in the comments.

    Open source
  6. CB

    Coin Bureau@coinbureauPost on X 路

    馃毃HUGE: 473 MILLION XRP is set to go public on Nasdaq this Monday. Ripple-backed XRP treasury Evernorth has closed its SPAC merger and raised about $300 MILLION in cash. Shares are expected to start trading as $XRPN on October 12, per Evernorth. https://t.co/Cu8zI13hZs

    Open source
  7. TB

    The Block@TheBlockCoPost on X 路

    THE BLOCK: Evernorth has completed its SPAC merger with Armada II, bringing approximately 473 million XRP and $300 million in gross cash proceeds into the public markets. The $XRP treasury company expects to begin trading on Nasdaq on Monday under XRPN. https://t.co/jflMRbUny6

    Open source