SEC approves Evernorth share prospectus for potential XRP treasury growth
Image: Bitcoin.com NewsThe US Securities and Exchange Commission approved a prospectus for Ripple-backed Evernorth Holdings. The company can issue shares from warrant exercises. Management can direct proceeds toward treasury growth and purchasing additional XRP. Evernorth plans to deploy portions of its existing XRP treasury through institutional partners in the fourth quarter. Meanwhile, XRP traded around $1.35 following the announcement.
Key points
- The US Securities and Exchange Commission approved a prospectus for Ripple-backed Evernorth Holdings.
- Evernorth plans to use proceeds from share issuances to acquire more XRP and expand its treasury.
- Evernorth plans to deploy portions of its existing XRP treasury through institutional partners in the fourth quarter.
Why it matters
The SEC approval provides a regulated capital-raising route for Evernorth to accumulate more XRP and deploy holdings through institutional partners.
Price context · XRP
At publication
$1.36
Now
$1.37
Change since
+0.74%
7 days · dashed line = publication
Sources · 2 publishers
Bitcoin.com News
Tier 2
Ripple-Backed Evernorth Eyes $132M Funding Amid XRP Buying Plans
Coverage timeline
- First reported by CoinGape
- Also reported by Bitcoin.com News
- CryptoVideos brief published
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