Evernorth plans to raise approximately $80.7 million through an equity financing arrangement with Cantor, with proceeds intended for purposes including the purchase of XRP.

Evernorth—the XRP treasury company—plans to raise approximately $80.7 million through a committed equity financing facility with CF Principal Investments, an affiliate of Cantor Fitzgerald. Proceeds will be used for general corporate purposes, including the purchase of XRP. As of its most recent disclosure, Evernorth holds approximately 473 million XRP on its balance sheet. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on October 23, Evernorth may issue and sell up to approximately 5.219 million newly issued shares of common stock to CF Principal Investments in tranches, subject to the satisfaction of customary closing conditions. Based on the stock’s $15.46 per-share closing price on October 22, the total commitment amounts to roughly $80.7 million; however, the final proceeds will depend on the actual number of shares sold and the price per share at closing.