Evernorth raises up to $80 million via equity financing to expand XRP treasury

Evernorth Holdings entered a stock purchase agreement with Cantor Fitzgerald affiliate CF Principal Investments on Oct. 23, allowing it to sell up to 5.22 million newly issued Class A shares over approximately 14 months. The arrangement could generate approximately $80.7 million in gross proceeds, or about $78.3 million after fees, based on the Oct. 22 closing share price of $15.46. Evernorth intends to allocate a substantial portion of the proceeds toward acquiring additional XRP.