Evernorth Seeks to Register 5.2M Shares as It Plans More XRP Purchases

Evernorth’s new share-sale arrangement could provide approximately $80.7 million in gross funding to support its XRP treasury. The company intends to put any proceeds toward additional purchases, alongside other corporate uses. Its planned share sales to Cantor could generate approximately $80.7 million gross, assuming all 5,218,935 shares sell at the Oct. 22 closing price of $15.46. Evernorth estimated up to $78.3 million net after fees and expenses over approximately 14 months. Actual receipts depend on future sale prices and facility use. Management retains discretion over allocating proceeds among acquisitions, XRP ecosystem activities, and working capital, or funds for day-to-day operations.

Source: Bitcoin.com News