Evernorth SPAC Plunges 50% Ahead of Nasdaq Debut
- —XRPN closed at $19.20 versus $38.65 the prior session, down 50.3%
- —Merger close moved from October 7 to October 9; Nasdaq debut around October 12
- —Evernorth expects roughly $48 million from the Armada trust at closing
- —The company plans to hold about 473 million XRP after the deal closes
Why it matters: The final redemption count will determine the cash and free float of the XRP treasury company, shaping how the market values the broader digital-asset treasury sector.
Source: DiarioBitcoin