#EvernorthXRPTreasuryCompletesSPACMerger
🚨 **Evernorth is going public, and it's carrying a very large XRP bag.** 🏦
The Ripple-backed XRP treasury firm is merging with SPAC Armada Acquisition Corp II. Shareholders approved the merger, and trading is set to start under the ticker XRPN. 📈 [kucoin](https://www.kucoin.com/news/flash/evernorth-s-xrp-treasury-aims-for-nasdaq-listing-after-shareholder-approval)
What the numbers say:
🔹 At closing, Evernorth expects to hold about 473M XRP, which it calls the largest public pure-play XRP treasury.
🔹 The deal and its private placements raised over $1B in total.
🔹 Ripple itself contributed 126.8M XRP when the merger agreement was signed.
🔹 At about $1.50 per XRP, that treasury was worth roughly $710M at the time of reporting. [evernorth clears shareholder vote ahead nasdaq debut 473m xrp treasury +3](https://cointelegraph.com/news/evernorth-clears-shareholder-vote-ahead-nasdaq-debut-473m-xrp-treasury)
My take:
🧠 This is XRP exposure in a stock wrapper, for people who can't or won't hold the token directly.
🧠 Evernorth says it wants to grow XRP per share through lending, liquidity provisioning and DeFi yield, so it is not meant to be a passive holder.
⚠️ Treasury SPACs aren't a free lunch. Other crypto treasury deals have hit market headwinds this year, and one was restructured and its vote postponed. Watch the share price against the value of the XRP it holds, and the yield strategy. [blockworks](https://blockworks.com/news/ripple-evernorth-raise-xrp) [Cointelegraph](https://cointelegraph.com/news/evernorth-clears-shareholder-vote-ahead-nasdaq-debut-473m-xrp-treasury)
Is XRPN a smart institutional on-ramp, or just another treasury trade? 👇
#EvernorthXRPTreasuryCompletesSPACMerger $XRP #Write2Earn!
*Not financial advice. Do your own research.*
---
🚨 **Evernorth is going public, and it's carrying a very large XRP bag.** 🏦
The Ripple-backed XRP treasury firm is merging with SPAC Armada Acquisition Corp II. Shareholders approved the merger, and trading is set to start under the ticker XRPN. 📈 [kucoin](https://www.kucoin.com/news/flash/evernorth-s-xrp-treasury-aims-for-nasdaq-listing-after-shareholder-approval)
What the numbers say:
🔹 At closing, Evernorth expects to hold about 473M XRP, which it calls the largest public pure-play XRP treasury.
🔹 The deal and its private placements raised over $1B in total.
🔹 Ripple itself contributed 126.8M XRP when the merger agreement was signed.
🔹 At about $1.50 per XRP, that treasury was worth roughly $710M at the time of reporting. [evernorth clears shareholder vote ahead nasdaq debut 473m xrp treasury +3](https://cointelegraph.com/news/evernorth-clears-shareholder-vote-ahead-nasdaq-debut-473m-xrp-treasury)
My take:
🧠 This is XRP exposure in a stock wrapper, for people who can't or won't hold the token directly.
🧠 Evernorth says it wants to grow XRP per share through lending, liquidity provisioning and DeFi yield, so it is not meant to be a passive holder.
⚠️ Treasury SPACs aren't a free lunch. Other crypto treasury deals have hit market headwinds this year, and one was restructured and its vote postponed. Watch the share price against the value of the XRP it holds, and the yield strategy. [blockworks](https://blockworks.com/news/ripple-evernorth-raise-xrp) [Cointelegraph](https://cointelegraph.com/news/evernorth-clears-shareholder-vote-ahead-nasdaq-debut-473m-xrp-treasury)
Is XRPN a smart institutional on-ramp, or just another treasury trade? 👇
#EvernorthXRPTreasuryCompletesSPACMerger $XRP #Write2Earn!
*Not financial advice. Do your own research.*
---