Crypto
Ripple-Backed Evernorth Set for Nasdaq Debut as Largest Public XRP Treasury
Ripple-backed Evernorth Holdings is set to make its debut on Nasdaq as the largest publicly traded pure-play XRP treasury company after shareholders of Armada Acquisition Corp. II approved their proposed business combination, according to an Oct. 1 press release.
The transaction is expected to close on Oct. 7, with trading under the 'XRPN' ticker set to start on Oct. 8, subject to remaining closing requirements.
Evernorth expects to hold about 473 million XRP at closing, a stash worth approximately $705 million at current market prices, making it the largest publicly traded pure-play XRP treasury company.