Evernorth completes Armada merger to list XRP treasury on Nasdaq

CryptoVideos brief
Built from 3 sources 10 Oct 2026 · 07:42 UTC 1 min read Main editor: Earl Jacobson

Evernorth completed its merger with Armada Acquisition Corp. II, taking an XRP treasury company public. The company holds approximately 473 million XRP and approximately $300 million in gross cash proceeds before transaction expenses. Its stock is expected to begin trading on Nasdaq on October 12 under the ticker XRPN. Evernorth says it will actively deploy capital across the XRP economy and pursue strategies to grow XRP per share.

Key points

Evernorth completed its business combination with Armada Acquisition Corp. II, clearing the way for a Nasdaq listing.
Evernorth expects its common stock to begin trading on Nasdaq on October 12 under the ticker XRPN.
Investors include Arrington Capital, SBI Group, Ripple, Pantera Capital and GSR.
Management says it will actively deploy capital across the XRP economy and pursue strategies to grow XRP per share.

Why it matters

Public-market investors gain access to a listed XRP treasury company that Evernorth says will actively deploy capital in the XRP economy rather than passively hold the token. Its shares are expected to trade on Nasdaq under XRPN.

What's unclear

The reports give different capital figures, citing more than $1 billion raised through the transaction and associated private placements versus approximately $300 million in gross

Price context · XRP

At publication

$1.40

Now

$1.16

Change since

−17.14%

7 days

Sources · 3 publishers

CryptoPotato Tier 2 First report 10 Oct, 07:31 UTC

XRP’s Nasdaq Moment Is Here: Evernorth Completes Merger

CoinGape Tier 2 10 Oct, 09:52 UTC

Ripple-Backed Evernorth Completes SPAC Merger, Bringing 473M XRP to Nasdaq

Crypto.news Tier 2 10 Oct, 10:41 UTC

Evernorth completes merger with 473m XRP ahead of Nasdaq debut

Coverage timeline

Oct 10, 07:31First reported by CryptoPotato
Oct 10, 09:52Also reported by CoinGape
Oct 10, 07:42CryptoVideos brief published
Oct 10, 09:52–10:412 more publishers added to sources

How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error