$BTC
Evernorth rushes to complete SPAC merger
473 million XRP are about to move onto Nasdaq
But what’s surprising is
it’s already down 37% before even going public
Guys,
XRP’s largest publicly traded treasury company is about to go public
The SPAC merger between Evernorth and Armada Acquisition Corp. II
has been approved by shareholders
The deal is expected to close on October 7
and the company is set to list on Nasdaq as XRPN on October 8
Strictly speaking,
there’s still one final step to go
so it’s not all finalized yet
But the wildest part of this deal
isn’t the listing
it’s that Evernorth plans to bring about 473 million XRP with it
After going public, Evernorth will hold 473 million XRP
worth about $714 million at the current price of $1.51
plus around $300 million in cash
making it the world’s largest pure-play XRP treasury company
But the crazy thing is,
the company hasn’t even gone public yet
and it’s already sitting on a loss
The agreement was signed in October 2025
At the time, Ripple’s 126.8 million XRP was priced at $2.37 per coin
Now XRP is only $1.51
down 37%
At the price when the agreement was signed,
4.73 million XRP was worth $1.1 billion
Now it’s down to $705 million
$414 million has vanished into thin air
Can you believe that?
Still,
this does have some pretty positive implications
Before, if you wanted to buy XRP,
you’d buy it on an exchange
Now there’s another way to play it:
buy shares in a publicly listed company
and let the company hold XRP for you
So this is positive news for the medium to long term
But guys,
remember:
it’s not a reason on its own to open a trade
#xrp财库公司evernorth完成spac合并
Evernorth rushes to complete SPAC merger
473 million XRP are about to move onto Nasdaq
But what’s surprising is
it’s already down 37% before even going public
Guys,
XRP’s largest publicly traded treasury company is about to go public
The SPAC merger between Evernorth and Armada Acquisition Corp. II
has been approved by shareholders
The deal is expected to close on October 7
and the company is set to list on Nasdaq as XRPN on October 8
Strictly speaking,
there’s still one final step to go
so it’s not all finalized yet
But the wildest part of this deal
isn’t the listing
it’s that Evernorth plans to bring about 473 million XRP with it
After going public, Evernorth will hold 473 million XRP
worth about $714 million at the current price of $1.51
plus around $300 million in cash
making it the world’s largest pure-play XRP treasury company
But the crazy thing is,
the company hasn’t even gone public yet
and it’s already sitting on a loss
The agreement was signed in October 2025
At the time, Ripple’s 126.8 million XRP was priced at $2.37 per coin
Now XRP is only $1.51
down 37%
At the price when the agreement was signed,
4.73 million XRP was worth $1.1 billion
Now it’s down to $705 million
$414 million has vanished into thin air
Can you believe that?
Still,
this does have some pretty positive implications
Before, if you wanted to buy XRP,
you’d buy it on an exchange
Now there’s another way to play it:
buy shares in a publicly listed company
and let the company hold XRP for you
So this is positive news for the medium to long term
But guys,
remember:
it’s not a reason on its own to open a trade
#xrp财库公司evernorth完成spac合并