EverNorth completes SPAC merger, begins trading on Nasdaq
EverNorth, the XRP treasury company, has closed its SPAC merger with Armada Acquisition Corp. II and begins trading on Nasdaq under ticker $XRPN. The combined company holds 473 million XRP (~$714 million).
The SPAC nearly quadrupled last week ahead of Wednesday's merger close, with the ticker briefly touching $53. EverNorth previously raised $30 million in convertible notes from South Korean investor NH Investment & Securities — contingent on the merger closing — with proceeds earmarked for XRP accumulation ahead of the debut.
Sources
- MARKETS: XRP treasury firm @evernorthxrp's SPAC nearly quadrupled last week, with $XRPN briefly hitting $53 ahead of Wednesday's merger close. The combined company will hold 473M $XRP worth $714M and begins trading Thursday on @Nasdaq. https://t.co/fuE22cUcgux.com ↗
- LATEST: @evernorthxrp's Nasdaq listing under $XRPN is one shareholder vote away, with Armada Acquisition Corp. II shareholders voting September 30. https://t.co/3Okf0Ah19nx.com ↗
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