Evernorth registers 11.5 million shares with SEC as XRP treasury expansion eyed

Evernorth Holdings, a company backed by Ripple , has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) to register 11,499,992 Class A common shares. These shares are tied to the company’s public warrants, as Evernorth explores further expansion of its XRP holdings. According to the filing, the 11.5 million Class A shares may be issued if public warrant holders choose to exercise their rights to buy shares at $11.50 each. With Evernorth’s stock trading at $15.45 as of October 16, the warrants are currently “in the money.” This means exercising them could be attractive to warrant holders, due to the difference between the exercise price and the current stock price. A warrant grants its holder the option to purchase a company’s stock at a specific price.

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