Evernorth Holdings secures $80.7M equity facility with Cantor Fitzgerald to fund XRP treasury expansion and ecosystem development.
VC & Fundraising ·
Evernorth Holdings has arranged a committed equity facility with Cantor Fitzgerald valued at up to $80.7 million, allowing the company to issue approximately 5.2 million shares of Class A common stock. The funds will support the company's XRP treasury strategy, with stated uses including additional XRP purchases and development of products within the XRP ecosystem.
The move follows Evernorth's Nasdaq listing and reflects a stated strategy to deepen institutional deployment of XRP. The company plans to leverage the capital to explore opportunities on the XRP Ledger, specifically targeting lending and on-chain credit markets alongside broader ecosystem partnerships.
The equity facility structure and timing of deployment remain unspecified. No details are provided on the pricing formula for share issuance, drawdown schedule, or specific institutional collaborations already underway.