Ripple-Backed Evernorth to Debut on Nasdaq With 473 Million XRP

Key Insights: Ripple-backed Evernorth completed a merger with Armada Acquisition Corp. II and now holds approximately 473 million XRP. Evernorth shares are expected to begin trading on Nasdaq under the ticker XRPN on October 12, following the SPAC merger. Evernorth secured roughly $300 million in gross cash proceeds, backed by Ripple, SBI Group, Kraken, and Pantera Capital. Ripple-backed Evernorth Holdings completed its merger with Armada Acquisition Corp. II on October 9, clearing the way for its Nasdaq debut. The XRP treasury company plans to begin trading under the ticker XRPN on October 12.