Update
Evernorth Shares Face Resale Overhang
Evernorth, the XRP treasury company, filed to register 73.7 million shares for potential resale in an SEC filing. The shares have fallen sharply since their Nasdaq debut, with XRPN shares losing nearly 40% of their value from their initial high of $19.39. Major backers including Ripple Labs, Arrington XRP Capital, and SBI Holdings are subject to lock-ups until April 9, 2027, subject to exceptions. The filing identifies 19.1 million of the 73.7 million shares as already issued.