#evernorthxrptreasurycompletesspacmerger
🚨 Evernorth just got approved. But the merger isn’t completed yet. 👀
Armada shareholders approved the Evernorth deal.
Sounds like 473M XRP is officially heading to Nasdaq, right?
Not so fast. 😂
The transaction is expected to close Oct. 7, with $XRPN.US expected to begin Nasdaq trading Oct. 8 — assuming the remaining closing conditions are satisfied.
Now look at the numbers:
💰 473M XRP — expected treasury at closing
💵 ~$300M — gross cash proceeds
🏦 ~80% — Armada trust redemptions
📈 $53 — recent peak for the SPAC shell
And here’s the paradox:
XRPN exploded. XRP didn’t.
Why?
Because a huge part of the SPAC move may be explained by share scarcity after redemptions, not by $700M+ of fresh XRP buying.
And that changes the story.
XRPN ≠ XRP.
One is a public company holding XRP, with expenses, dilution and a potential premium/discount to its underlying assets.
The real test comes after closing:
👉 Will Evernorth actually grow XRP per share — or will XRPN simply trade at a premium to the XRP it holds?
#XRP #Evernorth #XRPN
$XRP
$XRPN.US