Evernode Delays Nasdaq Listing to Oct. 12 on Administrative Procedures Delay
Summary
- Evernode said it had postponed its planned Nasdaq listing in the US to Oct. 12 from Oct. 8 because of delays in administrative procedures.
- Evernode said it will go public on Nasdaq through a SPAC merger, and that its shares will trade under the ticker 'XRPN' after the deal closes.
- Evernode said the merger will leave it with $300 million in cash and about 473 million XRP, making it the largest publicly listed holder of the token.
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Evernode, an XRP-based digital asset treasury company, has delayed its planned Nasdaq listing in the US.
The company said on Oct. 7 that the expected listing date had been pushed back to Oct. 12 from Oct. 8 because of delays in administrative procedures. Late last month, Evernode won shareholder approval at a special meeting for a business combination that would take the company public on Nasdaq through a SPAC merger.
The target date for completing the merger was also changed to Oct. 9 from Oct. 7. After the merger closes, the shares will trade on Nasdaq under the ticker XRPN.
Evernode said it does not expect the delay to affect the merger itself. The revised timetable remains subject to customary closing conditions and Nasdaq listing requirements.
Evernode expects to secure $300 million in cash through the merger. Once the deal is completed, the company will hold about 473 million XRP. The company said that would make it the largest publicly listed holder of XRP.
