Evernorth's XRP Treasury Set to Go Public on Nasdaq
A major milestone has been reached in the journey of Evernorth, a company built around XRP. The firm's shareholders have approved its merger with Armada Acquisition Corp. II, paving the way for a Nasdaq listing next week.
The deal is expected to close on October 7, with Evernorth's Class A common stock set to begin trading on October 8 under the ticker 'XRPN'. The merger and related fundraising have raised over $1 billion, generating around $300 million in gross cash proceeds.
Evernorth expects to hold about 473 million XRP at closing, making it the largest publicly traded pure-play XRP treasury company. This is a significant development for XRP holders, as they will now be able to own exposure to the token through a regulated and transparent public company.