Ripple-linked company Evernorth will raise over $1 billion for its IPO

Evernorth, a company holding the cryptocurrency XRP linked to the Ripple payment network, will raise over $1 billion through a special purpose acquisition company (SPAC).

Evernorth stated that it plans to merge with Armada Acquisition Corp II, and the combined company is expected to be listed on NASDAQ under the ticker symbol "XRPN"