Evernorth Prepares Nasdaq Debut With 473M XRP and Approximately $300M in Cash

Ripple-backed XRP treasury company Evernorth has reportedly completed its SPAC merger and raised approximately $300 million in cash ahead of its anticipated Nasdaq debut.
The company is expected to begin trading under the ticker $XRPN on Monday, October 12, according to Evernorth. Its treasury reportedly includes approximately 473 million $XRP, giving the publicly traded company substantial exposure to the cryptocurrency.
The listing would provide traditional equity investors with another vehicle for gaining indirect exposure to digital assets through a corporate balance sheet rather than holding tokens directly.
Evernorth's valuation could be heavily influenced by XRP price movements, the company's treasury strategy and investor expectations. The reported asset holdings and cash position should also be evaluated alongside any liabilities, share dilution and operating expenses.