Evernode Sets Oct. 8 Nasdaq Debut After SPAC Merger Approval
XRPN has more than doubled off its 52-week low of $10.1 on elevated volume (5.4× avg).
Summary
Evernode will list on Nasdaq under ticker XRPN on Oct. 8, following shareholder approval of its merger with Armada Acquisition Corp. II. The deal brings $300 million in cash, including a $225 million PIPE and $30 million in convertible notes, with some investors contributing XRP. Post-merger, Evernode will hold about 473 million XRP, making it the largest XRP holder among listed companies. The merger closes Oct. 7, and the combined company retains the Evernode name. This follows the Sept. 30 shareholder vote and clears the final hurdle for the listing.
At the time of this announcement, XRPN was trading at $20.73 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $655M. The 52-week trading range was $10.10 to $20.77. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Bloomingbit.