Ripple-Backed Evernorth Eyes $132M Funding Amid XRP Buying Plans

Evernorth plans to raise capital to buy more XRP, while existing warrants could provide up to $132.2 million in additional funding. Its latest prospectus details the cash investments and token contributions that helped establish its treasury. Buying additional XRP forms part of the financing strategy that Evernorth Holdings Inc. (Nasdaq: XRPN) outlined in its Oct. 19 prospectus. The XRP treasury company registered 11,499,992 Class A shares issuable through existing public warrants, which give holders the right to purchase stock at $11.50 per share. Full cash exercise would generate approximately $132.2 million. Slippage is the difference between an expected trading price and the price actually obtained. The prospectus gives management discretion to use any net proceeds for general corporate purposes.

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