Evernorth Starts Nasdaq Trading as XRP Holdings Lose Value
Ripple-backed Evernorth debuted on Nasdaq with 473 million XRP, while its holdings were valued roughly 40% below their level when the merger was signed.
Ripple-backed Evernorth began trading on Nasdaq under the ticker XRPN on Monday following the completion of its merger with a special purpose acquisition company, according to Decrypt.
Before the transaction closed, 80% of the SPAC’s investors opted to cash out rather than remain invested in the combined company.
Evernorth holds 473 million XRP. At its stock market debut, that cryptocurrency reserve was worth approximately 40% less than it had been when the merger agreement was signed.
Source: Decrypt
