Funding
Evernorth Plans $132.2M Funding Through XRP Purchases
Evernorth, a company backed by Ripple, plans to raise capital to buy more XRP. Existing public warrants could provide up to $132.2 million in additional funding. The company's latest prospectus details the cash investments and token contributions that helped establish its treasury. Buying additional XRP is part of its financing strategy, which includes using various capital structures and trading protocols designed to minimize slippage. The prospectus gives management discretion to use any net proceeds for general corporate purposes, with potential warrant receipts supplementing financing completed when the company entered public markets with approximately 473 million XRP and $300 million in gross cash proceeds.