Ripple-Backed Evernorth Shares Face Massive Selling Threat
Photo: Bitcoinist
Ripple-backed Evernorth has registered up to 73.7 million shares for potential resale, raising concerns about additional selling pressure on its stock. Major investors named in the SEC filing include Ripple Labs, Arrington XRP Capital, SBI Holdings, and a trust linked to Ripple co-founder Chris Larsen. The registration covers nearly three times the company’s outstanding Class A shares, although not all registered securities are immediately available for sale. Several key shareholders remain subject to six-month lock-up agreements, generally preventing transfers until April 2027.
Source: Bitcoinist
