Evernorth, an XRP treasury company, plans to list on Nasdaq under the ticker XRPN. Shareholders of Armada Acquisition Corp. II are scheduled to vote on the business combination on Sept. 30, a step that would remove the last major hurdle to Evernorth becoming publicly traded if approved. The company said it intends to actively deploy XRP across yield strategies, infrastructure participation, and capital markets activity. Evernorth currently holds about 473 million XRP, making it one of the largest identifiable corporate holders of the token. Separately, the company has agreed to a $30 million refinancing through 4% convertible preferred PIK notes, though the proceeds can only be used after the business combination receives approval. The update was reported by Odaily.
Evernorth, an XRP treasury company, is planning to list on the Nasdaq under the ticker XRPN.
Shareholders of Armada Acquisition Corp. II are set to vote on the proposed business combination on Sept. 30. If the deal wins approval, it would clear the last major obstacle to Evernorth becoming a publicly traded company.
The company said it plans to actively deploy XRP in yield strategies, infrastructure participation, and capital markets activity. Evernorth currently holds about 473 million XRP and is described as one of the largest identifiable corporate holders of the token.
On the financing side, Evernorth has also agreed to refinance $30 million through 4% convertible preferred PIK notes. Those funds will only become available after the business combination is approved.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
