Evernorth Holdings (ticker XRPN), the XRP treasury company backed by Ripple, experienced a sharp decline in its Nasdaq‑listed shares, falling more than 40% after a prospectus filing with the U.S. Securities and Exchange Commission.
SEC filing and share registration
The filing disclosed that 73,688,162 Class A shares have been registered for possible resale by existing shareholders. The registration includes large holders linked to the XRP ecosystem.
Share price performance
Evernorth began trading on Nasdaq on October 12. On November 10 the stock closed at $7.96, down 23.54% from the prior session’s $10.41. Trading volume rose to about 1.39 million shares, compared with roughly 369,000 shares the day before.
Since its closing price of $15.26 on October 28, the share price has fallen around 48%. Relative to the debut high of $19.39, the decline is approximately 59%.
Major shareholders registering shares
- Arrington XRP Capital Fund – about 33.82 million shares
- Ripple Labs – about 18.14 million shares
- Entities linked to SBI Holdings – about 11.79 million shares
- Larsen Lam Children’s Remainder Trust (associated with Ripple co‑founder Chris Larsen) – about 7.15 million shares
- Other noted entities include Pantera Capital, GSR Markets Switzerland and Payward (parent of Kraken)
Registration of shares does not confirm that any of these investors have sold or intend to sell the holdings.
Lock‑up agreements
Ripple, the Arrington‑sponsored entity, and the Larsen‑linked trust are subject to six‑month lock‑up agreements following Evernorth’s business combination on October 9. These agreements generally expire on April 9, 2027, with certain exceptions.
