Evernode Delays Nasdaq Listing to Oct. 12 on Administrative Delay

Evernode, an XRP-based digital-asset treasury company, has delayed its planned Nasdaq listing.

The company said on Oct. 7 that its expected Nasdaq listing date had been pushed back to Oct. 12 from Oct. 8 because of an administrative delay. Evernode had secured approval at a special shareholder meeting late last month for a business combination that would take it public on Nasdaq through a merger with a special purpose acquisition company, or SPAC.

The target date for completing the merger was also moved 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 schedule remains subject to customary closing conditions and Nasdaq listing requirements.

The merger is set to provide Evernode with $300 million in cash. Once the transaction is completed, the company will also hold about 473 million XRP. Evernode said that would make it the largest publicly listed holder of XRP.