Ripple-backed XRP treasury firm Evernorth completes SPAC merger, to list on Nasdaq
- —Merger with Armada Acquisition Corp. II closed on October 9
- —About 473 million XRP and $300 million in cash enter the public market
- —Nasdaq trading under ticker XRPN expected to begin Monday
- —Deal disclosed in an 8-K filing with the SEC
Why it matters: A listed XRP treasury vehicle gives institutions a new way to gain exposure to XRP without buying the token directly.
Source: PANews