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Evernorth is about to list on Nasdaq as a pure XRP treasury stock, and whether it trades above or below the value of its actual crypto holdings could determine whether it ever buys another token again.
At closing, Evernorth held about 473 million XRP. Its shares are expected to begin Nasdaq trading Oct. 12; gross proceeds are before transaction expenses.
Evernorth has completed its SPAC merger, preparing to list on Nasdaq with approximately 473 million XRP and $300 million in cash proceeds. Yet XRP continues to decline.