Evernorth Holdings has filed to raise up to $80.7 million through a committed equity facility with Cantor Fitzgerald, marking a significant step in funding the company's XRP treasury strategy following its recent Nasdaq debut.
Under the agreement, Evernorth can sell up to 5,218,935 shares of Class A common stock to CF Principal Investments LLC. Based on the October 22, 2026, closing share price, the facility is expected to generate approximately $80 million in gross proceeds. The company plans to allocate funds toward general corporate purposes, including additional XRP purchases and product development within the XRP ecosystem.
Evernorth's Chief Financial Officer Matt Frymier commented on the development, stating: "This represents our first step in putting facilities in place to help grow and manage our treasury in an accretive manner for shareholders."
The company currently holds approximately 473 million XRP units in its treasury. The new funding option provides Evernorth with greater operational flexibility as it expands. The announcement follows Evernorth's completion of its business combination with Armada Acquisition Corp. II and the start of trading on Nasdaq under the ticker XRPN.
Following its Wall Street debut, Evernorth partnered with Ripple, Kraken, Coinbase, and BitGo to deploy its XRP treasury strategically. The company expects to begin rolling out XRP into institutional strategies in the fourth quarter of 2026, initially leveraging established financial partners and their institutional infrastructure.
Looking forward, Evernorth plans to explore opportunities within the XRP Ledger as lending and on-chain credit markets develop. Once those services are operational, the company intends to direct capital into on-chain markets.
