Evernorth takes a page from Michael Saylor’s Bitcoin playbook with new $80 million XRP funding plan

Evernorth Holdings could raise approximately $80 million through a new equity financing agreement with Cantor Fitzgerald to expand its XRP treasury. An accompanying SEC prospectus estimates that the arrangement could generate $80.7 million in gross proceeds, or approximately $78.3 million after fees and expenses, based on Evernorth's Oct. 22 closing share price of $15.46. Evernorth intends to allocate a substantial portion of the proceeds toward acquiring additional XRP, while using the remaining capital for working capital, corporate expenses, and activities within the XRP ecosystem . Under the agreement, the Nasdaq-listed company can direct Cantor to purchase shares periodically at 97% of their volume-weighted average trading price. The arrangement lets Evernorth access capital in installments, with management deciding when to issue shares based on market conditions and financing needs.

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