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UNIEvernorth completes merger to hold 473m XRP ahead of Nasdaq listing
Evernorth Holdings has closed its merger with Armada Acquisition Corp. II, holding about 473m XRP and roughly $300m in gross cash proceeds, with Nasdaq trading expected to start on 12 October.
Why it matters: The listing gives stock market investors exposure to an actively managed XRP treasury, tying a large token holding to Nasdaq reporting and governance standards.
Key points
- Common stock is expected to begin trading on Nasdaq under the ticker XRPN on 12 October, after an administrative delay disclosed on 6 October replaced the earlier 8 October target.
- Backers include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR, and a Times Square Bearchamp premiere is set for 14 October.
Its common stock is expected to begin Nasdaq trading on 12 October as XRPN, following an administrative delay disclosed on 6 October that replaced the earlier 8 October target. Shareholders approved the merger at Armada II's 30 September meeting.
Investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR.
The debut week also brings the finale of Evernorth's Bearchamp collaboration to Times Square. An update on 10 October scheduled the premiere for 14 October at around 4 p.m. Eastern, coinciding with a planned Nasdaq closing-bell ceremony the same day.
What to watch: Nasdaq trading in Evernorth common stock is expected to begin on 12 October, with the Times Square Bearchamp premiere and closing-bell ceremony set for 14 October.
Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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