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Evernorth clears vote for Nasdaq listing of XRP treasury under XRPN

The SPAC merger is expected to close on Oct. 7, with shares starting Nasdaq trading the next day.

Reported · Written up by our desk · Market Structure

Evernorth has cleared a shareholder vote tied to its planned Nasdaq debut, positioning the company to trade on the exchange under the ticker XRPN after its SPAC merger closes, according to Cointelegraph.

Following the approval by shareholders of blank-check firm Armada Acquisition Corp. II, Evernorth is expected to become a publicly traded XRP treasury company with 473 million XRP held in its treasury, which the outlet estimates at about $710 million at current prices.

The deal is expected to close on Oct. 7, with shares of the combined company set to begin trading on Nasdaq under XRPN the following day, subject to remaining closing conditions.

Cointelegraph also notes the vote clears a key hurdle after Evernorth filed a Form S-4 registration statement with the US Securities and Exchange Commission in March, which the article says was declared.

Latest closeXRP $1.504 ▲1.1%|Nasdaq Comp. 26,861.06 ▲0.2%

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