Evernorth pushes XRPN Nasdaq trading debut to Oct. 12

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Evernorth Holdings has delayed its planned Nasdaq trading debut under the XRPN ticker by four days to Oct. 12 after an administrative issue pushed back the closing of its business combination with ...

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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEvernorth pushes XRPN Nasdaq trading debut to Oct. 12\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-10-07 17:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://crypto.news/evernorth-pushes-xrpn-nasdaq-trading-debut-to-oct-12/><strong>cryptonews</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Evernorth Holdings has delayed its planned Nasdaq trading debut under the XRPN ticker by four days to Oct. 12 after an administrative issue pushed back the closing of its business combination with ...</p>\n\n<a href=\"https://crypto.news/evernorth-pushes-xrpn-nasdaq-trading-debut-to-oct-12/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LCLG","symbol_name":"Logan Capital Broad Innovative Growth ETF","start_time":0,"source_url":"https://crypto.news/evernorth-pushes-xrpn-nasdaq-trading-debut-to-oct-12/","article_id":"2673091484","we_media_id":null,"thumbnails":[],"rights":{"source":"crypto_news_highlight","url":"https://crypto.news/evernorth-pushes-xrpn-nasdaq-trading-debut-to-oct-12/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2673091484","pubTimestamp":1791365714,"columns":[],"sourceInfo":{"source_id":"crypto_news_highlight","name":"Crypto News"},"weMediaInfo":null,"summary":"Evernorth Holdings has delayed its planned Nasdaq trading debut under the XRPN ticker by four days to Oct. 12 after an administrative issue pushed back the closing of its business combination with Armada Acquisition Corp. II.Evernorth expects XRPN to begin trading on Nasdaq on Oct. 12, four days later than the previously planned Oct. 8 debut.According to Evernorth, the administrative delay is not expected to affect the completion of the transaction, which is now expected to close on Friday, Oct. 9. Trading in the combined company’s Class A common stock is expected to begin on Nasdaq the following Monday, subject to customary closing conditions and Nasdaq listing requirements.“Due to an administrative delay that is not expected to affect the closing, we now expect to close on Friday, October 9th, with XRPN expected to start trading on Nasdaq on Monday, October 12th,” Evernorth said in an Oct. 6 update.The revised schedule adds two days to the expected merger closing and four days to the","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"LCLG":"Logan Capital Broad Innovative Growth ETF","XRPC":"Canary XRP ETF","XRPT":"2倍杠杆XRP ETF-Volatility Shares","XRPN":"ARMADA ACQUISITION CORP II","XRPZ":"Franklin XRP ETF","XRPK":"T-REX 2x Long XRP Daily Target ETF","XRPR":"REX-OSPREY XRP ETF","BITW":"Bitwise 10 Crypto Index ETF","XXRP":"2倍做多XRP ETF-Teucrium","IPOS":"Renaissance International IPO ETF","XRP":"Bitwise XRP ETF","XRPI":"1倍XRP ETF-Volatility Shares","TOXR":"21shares XRP ETF","UXRP":"Proshares Ultra XRP ETF"},"translate_title":"Evernorth 将 XRPN 纳斯达克交易首次亮相推迟至 10 月 12 日","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XRPI":0.9,"UXRP":0.9,"TOXR":0.9,"IPOS":1.5,"XRPR":0.6,"XRPT":0.9,"LCLG":1.5,"XRPK":0.6,"BITW":0.9,"XRP":0.9,"XRPC":0.9,"XRPN":1.5,"XXRP":0.9,"NQmain":1.5,"XRPZ":0.9},"content_text":"Evernorth Holdings has delayed its planned Nasdaq trading debut under the XRPN ticker by four days to Oct. 12 after an administrative issue pushed back the closing of its business combination with Armada Acquisition Corp. II.\n\n\nSummary\n\n\n\nEvernorth expects XRPN to begin trading on Nasdaq on Oct. 12, four days later than the previously planned Oct. 8 debut.\nThe company attributed the change to an administrative delay that it said was not expected to affect completion of the business combination with Armada II.\nThe transaction is now expected to close on Oct. 9 after Armada II shareholders approved the merger at their Sept. 30 extraordinary general meeting.\nEvernorth expects to hold approximately 473 million XRP at closing and says the balance would make it the largest publicly traded pure play XRP treasury company.\n\n\n\nAccording to Evernorth, the administrative delay is not expected to affect the completion of the transaction, which is now expected to close on Friday, Oct. 9. Trading in the combined company’s Class A common stock is expected to begin on Nasdaq the following Monday, subject to customary closing conditions and Nasdaq listing requirements.\n\nDue to an administrative delay that is not expected to affect the closing, we now expect to close on Friday, October 9th, with XRPN expected to start trading on Nasdaq on Monday, October 12th, in each case subject to customary closing conditions and Nasdaq listing requirements.…— evernorthxrp (@evernorthxrp) October 6, 2026\n\n\n“Due to an administrative delay that is not expected to affect the closing, we now expect to close on Friday, October 9th, with XRPN expected to start trading on Nasdaq on Monday, October 12th,” Evernorth said in an Oct. 6 update.\n\nAn Oct. 6 filing with the U.S. Securities and Exchange Commission confirmed the revised timetable and said Armada shareholders had already approved the business combination on Sept. 30.\nEvernorth Nasdaq listing moves four days later\nEvernorth had previously planned to complete the transaction on Oct. 7 and begin Nasdaq trading on Oct. 8.\nArmada shareholders approved the combination at an extraordinary general meeting held on Sept. 30, clearing one of the main requirements before closing. The company announced the result on Oct. 1 and said at the time that investor support for the transaction remained intact.\nCrypto.news previously examined the terms behind the shareholder vote, including the assets expected to sit inside the combined company and the conditions that still needed to be completed before the listing.\nShareholder approval did not itself complete the transaction. Evernorth and Armada still have to meet or waive the remaining closing conditions, while the planned listing remains subject to Nasdaq requirements.\nThe revised schedule adds two days to the expected merger closing and four days to the anticipated start of trading. Evernorth has not identified any problem with the transaction itself beyond describing the issue as administrative.\nOnce the combination is completed, the company will operate as Evernorth Holdings Inc. and its Class A common stock is expected to trade under XRPN.\nEvernorth expects to hold around 473 million XRP\nThe transaction is expected to bring Evernorth approximately $300 million in gross cash proceeds before transaction expenses.\nThat amount consists of $225 million from related private placements, $30 million from incremental convertible note financing and roughly $48 million of trust proceeds. Investors have contributed XRP in kind as part of the transaction as well.\nEvernorth expects to hold approximately 473 million XRP at closing, which the company says would make it the largest publicly traded pure play XRP treasury company.\nThe projected balance is not made up entirely of XRP bought with cash. Earlier analysis of the treasury detailed at least 473,276,430 XRP expected at closing under the transaction assumptions, including roughly 126.79 million XRP contributed by Ripple.\nAnother 84.37 million XRP was acquired for approximately $214 million, while other portions of the expected balance entered through separate contribution and transaction arrangements.\nEvernorth’s transaction and related private placements have raised more than $1 billion, with investors including Ripple, SBI Group, Arrington Capital, Pantera Capital, Kraken and GSR.\nCEO Asheesh Birla said in the Oct. 1 announcement that becoming public would provide investors with “a regulated, transparent way to own XRP exposure and participate in the growth of the blockchain economy.”\n\n“We’re grateful to our shareholders for their support as we complete this important transaction,” Birla said.\n\n$30 million financing remains tied to closing\nPart of the financing surrounding the transaction involves $30 million of convertible senior payment in kind notes.\nEvernorth agreed to the $30 million convertible financing ahead of the shareholder vote. The notes carry a 4% payment in kind rate and mature in 2031, with their issuance tied to completion of the business combination.\nProceeds from the financing may be used for additional XRP purchases and activities across the XRP ecosystem after the transaction closes.\nThe planned Nasdaq transaction had passed another procedural step in August when the SEC declared Evernorth’s Form S 4 registration statement effective. The registration statement becoming effective allowed Armada shareholders to consider the proposed combination and paved the way for the Sept. 30 meeting.\nSEC effectiveness did not amount to approval of the investment merits of the transaction, and completion remained dependent on the shareholder vote, other closing conditions and Nasdaq requirements.\nEvernorth has spent several months updating the registration documents for the proposed public company. A Form S 4 amendment filed in July included employment agreements for three senior executives while the company continued working toward the XRPN listing.\nThe Sept. 30 shareholder approval cleared the vote requirement, leaving the remaining closing process and Nasdaq listing conditions to be completed.\nEvernorth said in its latest update that Armada shareholders had already approved the merger and thanked supporters for sticking with the company through the revised schedule. The Oct. 6 SEC filing puts the business combination closing on or about Oct. 9 and the expected start of XRPN trading on or about Oct. 12.\n\n\n\n\n\n                Read more:\n            \n\n                Robinhood adds Bitcoin to balance sheet with $25 million purchase","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}