Evernorth Files to Sell 5.2M Shares, Plans Further XRP Buys

Evernorth Plans Share Offering to Fund XRP Purchases

Evernorth Holdings Inc. (Nasdaq: XRPN) has filed with the SEC to register 5.2 million shares, a move that could generate approximately $80.7 million in gross proceeds. The company explicitly stated its intention to use a portion of the funds raised for further purchases of XRP, the native token of the XRP Ledger.

The share-sale arrangement, facilitated through Cantor Fitzgerald & Co., is designed to expand Evernorth’s XRP treasury. Beyond XRP accumulation, the capital will also be used for general corporate purposes, according to the filing. This move signals continued confidence in XRP despite ongoing regulatory scrutiny faced by Ripple Labs, the token’s primary developer.

Evernorth has steadily increased its XRP holdings over the past year, positioning itself as a significant corporate holder of the digital asset. The company’s strategy focuses on leveraging XRP for cross-border payments and other financial services. This latest share offering underscores that commitment.

Source: Bitcoin.com News