Funding
Evernorth's XRP Funding Clears a Hurdle
Evernorth's original XRP funding share allowance equated to approximately $63 million at November 3's closing price, down from $81 million at October 22's closing price. The registration met one condition, but weaker shares have reduced the value of the original Cantor allowance to about $63 million. The facility allows Evernorth to sell up to 5,218,935 new shares to CF Principal Investments, a Cantor Fitzgerald affiliate, with the amount ultimately raised depending on share sales and market prices.