Evernorth Holdings debuted on the Nasdaq on October 12, 2026 under the ticker XRPN, with shares rising 5% at the open. The stock hit an intraday high of 13.43% before closing 1.5% higher, a more modest result than the initial enthusiasm suggested. The company came to market through a SPAC merger with Armada Acquisition Corp. II. At the time of the merger, Evernorth held approximately 473 million XRP, valued at roughly $657 million at a price of $1.39 per token, along with $300 million in gross cash proceeds. The group is backed by major crypto ecosystem players, including Ripple, Pantera Capital, Kraken and GSR.
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