Evernorth, a XRP treasury company, has completed its merger with Armada Acquisition Corp. II and is entering public markets with approximately 473 million XRP and $300 million in gross cash proceeds before expenses. The company will list on Nasdaq starting October 12 under the ticker XRPN. CEO Asheesh Birla, a former senior executive at Ripple, plans to deploy capital across the XRP ecosystem, support infrastructure and new use cases, and pursue strategies to grow XRP per share. Investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken and GSR. XRP was trading near $1.39 at press time, up roughly 1% on the day.
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