Evernorth plans to raise approximately $80.7 million through an equity financing arrangement, with proceeds intended for the purchase of XRP

Odaily News: Evernorth plans to raise approximately $80.7 million through a committed equity financing arrangement with an affiliate of Cantor Fitzgerald, with proceeds intended for general corporate purposes, including the purchase of XRP. Evernorth currently holds approximately 473 million XRP. According to an SEC filing submitted by Evernorth on October 23, the company has the right, subject to satisfaction of relevant conditions, to sell up to approximately 5.219 million newly issued shares of common stock to CF Principal Investments in tranches. Based on the closing price of $15.46 per share on October 22, the financing amount is estimated at approximately $80.7 million; the actual financing amount depends on the number of shares sold and the transaction price, and this arrangement does not represent that the financing or token purchase has been completed. Evernorth is an XRP treasury company.