More XRP? Evernorth Makes Its Next Move After Nasdaq Debut With $80.7M Funding Plan
Evernorth Holdings has filed to raise up to $80.7 million through a committed equity facility with Cantor Fitzgerald, allowing the company to purchase more XRP for its treasury strategy.
The agreement allows Evernorth to sell up to 5,218,935 shares of its Class A common stock to CF Principal Investments LLC, generating approximately $80 million based on its October 22, 2026 closing share price. The company intends to allocate some of these funds toward acquiring additional XRP and developing products within the XRP ecosystem.
Strategic Expansion
Evernorth already holds approximately 473 million units of XRP in its treasury. The new funding provides greater flexibility as the company expands its operations following its business combination with Armada Acquisition Corp. II and subsequent Nasdaq debut under the ticker XRPN.
This represents our first step in putting facilities in place to help grow and manage our treasury in an accretive manner for shareholders.
Institutional Partnerships
Shortly after its Wall Street debut, Evernorth established partnerships with Ripple, Kraken, Coinbase, and BitGo to deploy its XRP treasury into institutional strategies. The company expects to begin this deployment in the fourth quarter of 2026, utilizing established financial partners' infrastructure.
Evernorth also plans to explore opportunities within the XRP Ledger as its lending and on-chain credit markets develop. Once these services become available, the company intends to direct some capital into these on-chain markets.
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