Evernorth to raise about $80.7M via Cantor equity facility, partly for XRP purchases

TREE NEWS update: XRP treasury company Evernorth plans to raise about $80.7 million through a committed equity financing arrangement with a Cantor Fitzgerald affiliate, with proceeds intended for general corporate purposes including buying XRP. An SEC filing dated Oct. 23 gives Evernorth the right to sell up to about 5.219 million new common shares to CF Principal Investments in tranches once conditions are met. At the Oct. 22 closing price of $15.46 per share, that equals roughly $80.7 million; the actual amount depends on shares sold and pricing, and the financing and XRP purchases have not been completed. Evernorth currently holds about 473 million XRP.