XRP
Evernorth Begins Nasdaq Trading Under XRPN with 473 Million XRP Holdings
Evernorth has debuted on the Nasdaq holding 473 million XRP after completing its business combination with Armada Acquisition Corp. II.
Evernorth commenced trading on the Nasdaq under the ticker symbol XRPN on October 12 following the completion of its merger with special purpose acquisition company Armada Acquisition Corp. II on October 9. The company holds approximately 473 million XRP tokens alongside $300 million in gross cash funding before transaction expenses.
The firm's XRP reserves consist of a combination of market acquisitions and direct token contributions from investors, rather than entirely newly bought market supply. Backers involved in the transaction include Ripple, SBI Group, Arrington Capital, Pantera Capital, Kraken, and GSR.
Evernorth appointed former Coinbase Asset Management co-chief investment officer Hugo Jeandesboz as its chief investment officer on October 12. Reporting to founder and chief executive officer Asheesh Birla, Jeandesboz is tasked with managing treasury allocation, liquidity, and yield strategies aimed at increasing the amount of XRP per share.
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