Evernorth Warrants Carry $18 Share-Price Test for Redemption
Photo: TokenPost
Evernorth Holdings Inc. may redeem its public warrants if its stock clears a sustained $18 test, while full cash exercise would bring the XRP treasury company $132.2 million in gross proceeds. The redemption test requires XRPN to trade above $18 for 20 of 30 consecutive trading days. As of Oct. 16, XRPN traded at $15.45 and the warrants at $4.16 each. Those prices alone do not establish whether the sustained trading test has been met. The Oct. 19 warrant-share registration covers 11,499,992 Class A common shares issuable upon exercise of existing public warrants.
Source: TokenPost
