XRP treasury firm Evernorth has completed its merger with a special purpose acquisition company (SPAC) and will list on the Nasdaq on October 12, holding 473 million XRP.
44 minutes ago
XRP treasury firm Evernorth Holdings announced it has completed its business combination with special purpose acquisition company (SPAC) Armada Acquisition Corp. II, and will begin trading on the Nasdaq under the ticker symbol XRPN on October 12. Following the deal close, Evernorth holds approximately 473 million XRP tokens and has secured total gross cash proceeds of around $300 million, before deducting transaction fees. Evernorth is backed by investors including Arrington XRP Capital, as well as SBI Group, Ripple, Pantera Capital, Kraken, and GSR. The company positions itself as an actively managed XRP treasury, with plans to deploy capital into the XRP ecosystem, participate in institutional-grade on-chain finance, tokenized assets, on-chain lending and settlement infrastructure, and drive long-term growth in its per-share XRP holdings via institutional and DeFi yield strategies, ecosystem development, and capital market activities.
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