XRP’s Nasdaq Moment Is Here: Evernorth Completes Merger

Evernorth has a new date when it will go live on Nasdaq. The XRP-focused treasury company has officially completed its business combination with Armada Acquisition Corp. II, clearing the final major hurdle before its Nasdaq debut. Evernorth will enter the public markets holding approximately 473 million Ripple tokens and around $300 million in gross cash proceeds. 473M XRP Heads to Nasdaq The development will allow public-market investors to gain access to one of the largest corporate XRP treasury firms, which intends to do considerably more than passively hold the asset. The closing announced on Friday evening follows the shareholder vote previously reported by us, when roughly 20.5 million Armada shares voted in favor of the merger, compared with just 1.4 million against. At the time, Evernorth disclosed more than $1 billion raised through the transaction and associated private placements. Previous investors in the company came from prominent names in the crypto and traditional finance space, including Ripple itself, SBI Group, Panter Capital, GSR, and Arrington Capital. “Our conviction in XRP has always been rooted in the belief that the ecosystem would continue to mature, attra...