Ripple-backed Evernorth Holdings filed a prospectus registering 11,499,992 Class A shares that could be sold if public warrants are exercised. The filing does not mean those shares have been issued; the number depends on future warrant exercises. Evernorth says it intends to sell more shares to buy XRP, but the prospectus does not say it has bought XRP or that warrant proceeds would be used for that purpose.
Evernorth would receive cash if holders exercise warrants for $11.50 a share, but it would not receive proceeds from sales of the shares covered by the prospectus. The source lists a December 27, 2012 warrant expiration date, which conflicts with its account of an October filing and later warrant prices.
