Evernorth Holdings, the Ripple‑backed XRP treasury, announced a plan to raise approximately $80 million by issuing new XRPN Class A common shares. The company signed a stock purchase agreement with CF Principal Investments, an affiliate of Cantor Fitzgerald, that allows the issuance of roughly 5.2 million shares over the coming months.
Terms of the stock issuance
Cantor Fitzgerald will purchase the shares at a price equal to 97 % of the volume‑weighted average price (VWAP) for the issuance period. The total proceeds are estimated at $80.7 million, but the final amount will depend on the share price, market liquidity, and the number of shares actually issued.
Use of proceeds
Evernorth stated that the funds will be used for general corporate purposes, including the acquisition of additional XRP, other activities within the XRP ecosystem, and working capital. A substantial portion of any proceeds is expected to be directed toward buying more XRP.
Potential additional funding
The company also holds outstanding warrants that could generate up to $132.2 million if fully exercised. Exercising the warrants would involve issuing about 11.5 million shares at $11.50 each, though this outcome depends on investor decisions and could dilute existing shareholders.
Market context
At the time of reporting, XRP was trading around $1.29, within a support zone of $1.28‑$1.30. Trading volume had fallen 13 % over the previous 24 hours, and data showed increased activity in the derivatives market, narrowing the decline in XRP futures open interest.
