Evernorth x XRP: restructuring, not a new purchase.
Armada shareholders approved the merger. XRPN could debut on Nasdaq on October 8.
What the 473 million XRP treasury really represents:
- 126.8 million XRP from Ripple
- 211.3 million XRP from a Series C subscription
- 50 million XRP from a related contribution
- 84.4 million XRP purchased on the market for $214 million (average price of $2.54)
This is not a new $700 million purchase. It is the consolidation of existing reserves into a share structure.
Does XRPN trade at a premium or discount to the underlying XRP? Institutional flows into the treasury structure
Derivatives market reaction (OI at $3.6 billion)
The merger has not yet been completed. The listing is subject to final approvals.
DYOR. Manage your risk.
$XRP $RLC $ORCA
#XRP #Nasdaq
Armada shareholders approved the merger. XRPN could debut on Nasdaq on October 8.
What the 473 million XRP treasury really represents:
- 126.8 million XRP from Ripple
- 211.3 million XRP from a Series C subscription
- 50 million XRP from a related contribution
- 84.4 million XRP purchased on the market for $214 million (average price of $2.54)
This is not a new $700 million purchase. It is the consolidation of existing reserves into a share structure.
Does XRPN trade at a premium or discount to the underlying XRP? Institutional flows into the treasury structure
Derivatives market reaction (OI at $3.6 billion)
The merger has not yet been completed. The listing is subject to final approvals.
DYOR. Manage your risk.
$XRP $RLC $ORCA
#XRP #Nasdaq