Evernorth to register 5.2 million XRPN shares with SEC for $80.7 million facility

The S-1 prospectus creates a purchase agreement between Evernorth and Cantor. Under this arrangement, Cantor agrees to acquire newly issued shares of Evernorth’s Class A common stock, which trades on the Nasdaq Global Market under the ticker symbol XRPN. The agreement allows Evernorth to sell the shares in tranches over time rather than a single offering. The total proceeds Evernorth may receive reach up to $80.7 million if all registered shares are sold at the last closing price. As part of the deal, Evernorth will pay Cantor a cash fee of $521,893.50.

Source: CoinTurk News