Evernorth Holdings said in its Oct. 19 prospectus that it intends to raise capital to buy more XRP. It registered 11,499,992 shares issuable through public warrants at $11.50 each. Full cash exercise could bring in about $132.2 million, but holders may not exercise the warrants, and some circumstances allow exercise without a cash payment. The company can also use any net proceeds for general corporate purposes.
Evernorth’s business combination closed on Oct. 9, 2026. Two private placements brought in $224.55 million in cash and 800,000 XRP, while Ripple contributed about 126.8 million XRP. Warrant exercises that issue shares would dilute existing shareholders’ ownership percentages.
