XRP
Evernorth Registers 11.5 Million Shares Tied to Public Warrants for Potential XRP Purchases
Evernorth Holdings has filed to register nearly 11.5 million shares linked to public warrants, which could yield about $132.25 million in gross capital.
Evernorth Holdings has submitted a registration statement for 11,499,992 Class A common shares associated with public warrants trading under the ticker XRPNW. Each warrant holds an exercise price of $11.50 per share, while the underlying XRPN stock was trading at $15.45 on October 16, putting the contracts in the money.
If warrant holders choose to exercise all contracts for cash, the company could secure around $132.25 million in gross proceeds. Evernorth has indicated that it intends to sell additional equity to finance further XRP acquisitions for its treasury, an amount that could cover an estimated 85 million to 95 million tokens depending on market valuations.
However, the regulatory filing does not confirm any immediate issuance of new shares or actual purchases of XRP. The potential conversion of warrants also introduces a risk of equity dilution for existing shareholders if contracts are exercised.
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