Evernorth Holdings made its Nasdaq debut under the ticker XRPN on October 14, after completing a business combination with Armada Acquisition Corp. II on October 9. It held an estimated 473 million XRP at closing and had received approximately $300 million in gross cash proceeds before transaction costs.
Ripple CEO Brad Garlinghouse said Evernorth could eventually offer yield-generating and institutional products tied to XRP, but described those as possibilities, not existing products. Evernorth offers investors exposure to XRP through its shares; its performance also depends on treasury management, financing and operating results.
