#EvernorthXRPTreasuryCompletesSPACMerger
Evernorth × XRP: Restructuring, not a new purchase.
Armada shareholders approved the merger. XRPN trading on Nasdaq could begin on October 8.
What the 473 million XRP treasury actually represents:
- 126.8 million XRP from Ripple
- 211.3 million XRP from the Series C offering
- 50 million XRP from a related-party contribution
- 84.4 million XRP purchased on the market for US$214 million (at an average price of $2.54)
This is not a new $700 million purchase. Rather, it is a consolidation of existing reserves within an equity structure.
What to watch:
- Will XRPN trade at a premium or discount to underlying XRP?
- Institutional flows into the treasury structure
- The derivatives market’s reaction (open interest at $3.6 billion)
The merger is not yet complete. The listing is conditional on receiving final approvals.
Do your own research (DYOR). Manage risk.
$XRP $RLC $ORCA
#ETHUp70%InQ3ButLiquidityFalls #NASDAQ #xrp
Evernorth × XRP: Restructuring, not a new purchase.
Armada shareholders approved the merger. XRPN trading on Nasdaq could begin on October 8.
What the 473 million XRP treasury actually represents:
- 126.8 million XRP from Ripple
- 211.3 million XRP from the Series C offering
- 50 million XRP from a related-party contribution
- 84.4 million XRP purchased on the market for US$214 million (at an average price of $2.54)
This is not a new $700 million purchase. Rather, it is a consolidation of existing reserves within an equity structure.
What to watch:
- Will XRPN trade at a premium or discount to underlying XRP?
- Institutional flows into the treasury structure
- The derivatives market’s reaction (open interest at $3.6 billion)
The merger is not yet complete. The listing is conditional on receiving final approvals.
Do your own research (DYOR). Manage risk.
$XRP $RLC $ORCA
#ETHUp70%InQ3ButLiquidityFalls #NASDAQ #xrp