Ripple-backed XRP treasury company Evernorth has completed its business combination with special purpose acquisition company Armada Acquisition Corp. II. The closing was disclosed in an 8-K filing submitted to the U.S. Securities and Exchange Commission, which shows the transaction was completed on Oct. 9, Eastern Time. Following the merger, about 473 million XRP and $300 million in cash gross proceeds have entered the public market. Evernorth is expected to begin trading on Nasdaq under the ticker XRPN starting next Monday. The update ties the company’s public listing timeline directly to the completed SPAC transaction and outlines the scale of assets and proceeds associated with the deal.
Ripple-backed XRP treasury company Evernorth has completed its business combination with special purpose acquisition company Armada Acquisition Corp. II.
An 8-K filing submitted by Evernorth to the U.S. Securities and Exchange Commission shows the deal closed on Oct. 9, Eastern Time. After the merger, about 473 million XRP and $300 million in cash gross proceeds entered the public market.
The company is expected to start trading on Nasdaq under the ticker XRPN next Monday.
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