$XRP
EVERNORTH DELAYS ITS NASDAQ DEBUT, WITH XRPN NOW TARGETING OCTOBER 12.
Evernorth delayed the planned start of trading of its shares on Nasdaq under the ticker XRPN by four days.
The debut, initially scheduled for October 8, is now expected on Monday, October 12, while the closing of its business combination with Armada Acquisition Corp. II is expected around October 9.
The company attributed the change to an administrative delay, which it said should not affect the closing of the transaction.
The new timeline is also subject to customary conditions and Nasdaq listing requirements.
Upon completion of the transaction, Evernorth expects to hold approximately 473 million XRP and around $300 million in gross cash proceeds.
The difference between XRP and XRPN is important: Nasdaq will not list XRP directly.
XRPN will be the ticker for Evernorth shares, and the company’s corporate strategy is focused on building an XRP-linked treasury.
The company also plans to leverage its position through XRP lending, liquidity provision, and additional purchases, with the goal of increasing the amount of XRP represented by each share.
For now, the announced change affects the listing schedule, while the planned structure of the XRP treasury remains unchanged.
#xrp #TrendingTopic #TradingCommunity #crypto #AltSeasonComing
TRADE HERE 👇
EVERNORTH DELAYS ITS NASDAQ DEBUT, WITH XRPN NOW TARGETING OCTOBER 12.
Evernorth delayed the planned start of trading of its shares on Nasdaq under the ticker XRPN by four days.
The debut, initially scheduled for October 8, is now expected on Monday, October 12, while the closing of its business combination with Armada Acquisition Corp. II is expected around October 9.
The company attributed the change to an administrative delay, which it said should not affect the closing of the transaction.
The new timeline is also subject to customary conditions and Nasdaq listing requirements.
Upon completion of the transaction, Evernorth expects to hold approximately 473 million XRP and around $300 million in gross cash proceeds.
The difference between XRP and XRPN is important: Nasdaq will not list XRP directly.
XRPN will be the ticker for Evernorth shares, and the company’s corporate strategy is focused on building an XRP-linked treasury.
The company also plans to leverage its position through XRP lending, liquidity provision, and additional purchases, with the goal of increasing the amount of XRP represented by each share.
For now, the announced change affects the listing schedule, while the planned structure of the XRP treasury remains unchanged.
#xrp #TrendingTopic #TradingCommunity #crypto #AltSeasonComing
TRADE HERE 👇