UPDATE: Evernorth begins Nasdaq trading under ticker XRPN
CIE News ·
Evernorth started Nasdaq trading under ticker XRPN on October 12, 2026, after merging with a SPAC and holding roughly 473 million XRP and $300 million in gross cash.
Evernorth began trading on the Nasdaq under the ticker XRPN on October 12, 2026, following the completion of its merger with SPAC Armada Acquisition Corp. II on October 9, 2026. As previously reported, the company debuted as a pure-play XRP treasury, with its share price rising 5% at the market open.
Decrypt reported that Evernorth entered public markets holding approximately 473 million XRP alongside roughly $300 million in gross cash. Based on a $1.43 closing reference price, the token holdings were valued at about $677 million. Evernorth had acquired about $947 million in XRP in late October 2025, when tokens traded around $2.37 at the deal's signing.
The firm is led by CEO Hugo Jeandesboz, a former co-chief investment officer at Coinbase Asset Management, who plans to direct XRP Ledger validator operations and decentralized finance lending strategies. According to Decrypt, major shareholders include SBI Holdings with 39.9% of voting shares, Arrington Capital with 19.9%, and Ripple co-founder Chris Larsen tied to 9.9%.