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Following
XRP Evernorth Holdings delays Nasdaq listing by four days due to administrative delays
Evernorth Holdings announced that due to administrative delays, its expected Nasdaq initial public offering (IPO) date has been postponed four days back to October 12. The company is preparing to go public with assets holding approximately 473 million XRP (XRP).
Key Points
Merger and Trading Timing: Evernorth now expects its merger with Armada Acquisition Corp. II to be completed around October 9, and XRPN shares will begin trading around October 12.
Official response: The company blamed administrative delays and said it did not expect the issue to affect the final delivery process.
Share price comparison: XRP traded at around $1.47 on Wednesday, well below the average cost Evernorth paid $2.54 for some of its positions.
Detailed extension details disclosed
The company, which focuses on XRP treasury management, disclosed the changes in an October 6 filing with the U.S. Securities and Exchange Commission (SEC) signed by founder and CEO Asheesh Birla.
Based on the latest plan, Evernorth expects its merger with Special Purpose Acquisition Corporation (SPAC) Armada Acquisition Corp. II to close on or around October 9, and XRPN shares will be listed for trading on Nasdaq on or around October 12. Plans previously announced on October 1 were originally scheduled to complete the merger on October 7 and made their debut on October 8.
该 filing 仅将此次延迟描述为“预计不会影响交割的行政延误”，这一措辞也在公司的社交媒体帖子中被重复使用。对于导致延迟的具体原因，公司未作进一步解释。
Armada II的股东已于9月30日批准了此次合并，其中约2050万股赞成票，约140万股反对票。Evernorth随后表示，预计合并完成时将持有约4.73亿枚XRP，这将使其成为唯一一家专门致力于该代币交易的上市公司。
此外，该交易预计将在扣除费用前带来约3亿美元的大宗现金流入，支持方包括Ripple、SBI集团、Pantera Capital、Kraken、GSR和Arrington Capital等知名机构。
XRP价格承压
此次延期发生在XRP交易价格远低于Evernorth购买部分持仓成本之际。受加密货币市场广泛抛售引发的杠杆头寸清算影响，XRP价格在周三24小时内下跌约2.6%，至约1.47美元。
加密货币分析师Sam Daodu估计，截至10月1日，Evernorth于2025年11月以平均2.54美元的价格买入的8440万枚XRP产生了约8800万美元的账面亏损，当时XRP价格为1.49美元。
Daodu还指出，Evernorth并未承诺在上市后继续购买更多代币，且必须面对现货XRP交易所交易基金（ETF）的竞争，后者不承担企业债务风险。
未来展望与历史背景
新的日期仍属于预期而非承诺，Evernorth表示这些时间表取决于常规的交割条件以及纳斯达克的上市要求。计划中的3000万美元可转换债券发行（2031年到期，占股4%）也依赖于合并的最终完成。
Evernorth的时间表此前曾发生过多次调整。当Evernorth于2025年10月启动并与Armada II达成协议时，原计划是在2026年第一季度完成交割。然而，公司直到次年3月才提交注册声明，SEC于8月27日宣布其生效，股东投票则在大约五周后进行。
