Evernorth Adjusts Nasdaq Debut Timeline Due to Administrative Delay
- Evernorth’s merger is now expected to close on Friday, October 9.
- Nasdaq trading for the combined company is targeted for Monday, October 12.
- Approximately 473 million XRP are anticipated at completion.
- Shareholders of Armada II approved the merger on September 30.
- The deal involves $300 million in gross cash proceeds before expenses.
Evernorth has revised its timeline for closing a merger and starting Nasdaq trading due to an administrative delay, with no expected impact on the actual closing process. The company plans to manage digital assets like XRP as part of its treasury model, offering shareholders exposure through equity ownership.
The merger aims to finalize approximately 473 million XRP and secure $300 million in cash proceeds, which includes private placements and convertible note financing. (Source)
