Evernorth Holdings, a treasury company that primarily holds $XRP , and special purpose acquisition company Armada Acquisition Corp. II jointly announced on October 1 that Armada II shareholders approved the business combination between the two at an extraordinary general meeting on September 30. The transaction is expected to close on October 7. After the merger, the combined entity plans to begin trading on the Nasdaq under the stock ticker XRPN starting October 8, subject to satisfying or waiving the remaining closing conditions and obtaining relevant approvals from the exchange.
According to an official press release, the transaction is expected to generate total cash proceeds of approximately $300 million, including approximately $225 million related private placements, $30 million in convertible note financing, and $48 million in funds from the trust account. These amounts have not yet been deducted for transaction fees. Investors also contribute XRP in-kind. The combined fundraising amount for the transaction and related private placements, as stated in the press release, exceeds $1 billion. At closing, Evernorth is expected to hold approximately 473 million XRP, and it said it will become one of the largest publicly listed XRP treasury companies focused on a single asset. Parties involved include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR. This path provides an equity-level XRP exposure rather than directly listing the token on the Nasdaq. The XRP spot price and the XRPN share price may still diverge. Going forward, it remains to be seen whether the closing is completed on schedule, whether the listing actually takes place, and the treasury’s subsequent plans for additional purchases and operational arrangements.
#XRP #XRPN #行情 does not constitute investment advice
According to an official press release, the transaction is expected to generate total cash proceeds of approximately $300 million, including approximately $225 million related private placements, $30 million in convertible note financing, and $48 million in funds from the trust account. These amounts have not yet been deducted for transaction fees. Investors also contribute XRP in-kind. The combined fundraising amount for the transaction and related private placements, as stated in the press release, exceeds $1 billion. At closing, Evernorth is expected to hold approximately 473 million XRP, and it said it will become one of the largest publicly listed XRP treasury companies focused on a single asset. Parties involved include Ripple, Arrington Capital, SBI Group, Pantera Capital, Kraken, and GSR. This path provides an equity-level XRP exposure rather than directly listing the token on the Nasdaq. The XRP spot price and the XRPN share price may still diverge. Going forward, it remains to be seen whether the closing is completed on schedule, whether the listing actually takes place, and the treasury’s subsequent plans for additional purchases and operational arrangements.
#XRP #XRPN #行情 does not constitute investment advice
