# Evernorth Signs Share Facility With $80.7M Gross Proceeds Estimate By John Kim Canonical URL: https://www.tokenpost.com/news/business/40558 Published: 2026-10-25T14:42:01.000Z Updated: 2026-10-25T14:42:01.000Z Section: Business > The estimate assumes all shares sell at $15.46; after the facility’s 3% discount, illustrative purchase proceeds are $78.3 million. Evernorth expects a substantial portion of any proceeds to fund XRP purchases. Evernorth Holdings Inc. (Nasdaq: XRPN) signed a share-sale facility Friday, Oct. 23, that could help fund XRP purchases, with a gross proceeds estimate of $80.7 million based on the stock’s Oct. 22 reference price. Under the committed equity facility, CF Principal Investments LLC, an affiliate of Cantor Fitzgerald, may buy up to 5,218,935 newly issued Class A shares. Evernorth chooses whether and when to issue shares and how many to sell. The arrangement provides no upfront payment, and no share sales or proceeds have been confirmed. Purchases generally are priced at 97% of the applicable volume-weighted average price. They also face a 4.99% beneficial-ownership cap and a general limit tied to 20% of shares traded during the purchase period. At the Oct. 22 Nasdaq closing price of $15.46, selling all available shares at that reference price would produce an estimated $80.7 million in gross proceeds. Applying the 3% discount gives illustrative purchase proceeds of $78.3 million. The actual amount would depend on the share price and how many shares Evernorth elects to sell. Evernorth expects a substantial portion of any proceeds to fund additional XRP purchases. It also lists working capital, general corporate purposes and XRP ecosystem activity as possible uses; management has not set a specific allocation. Evernorth held 473 million XRP on Oct. 14 and planned institutional strategies with Ripple, Kraken, Coinbase and BitGo for the fourth quarter of 2026. Its [institutional XRP plans]() build on that treasury. “We’re putting our treasury to work,” founder and CEO Asheesh Birla said Oct. 14. The facility uses equity financing to expand a digital-asset treasury, though its mechanics differ from Strategy’s stock-sale program. Strategy used stock-sale proceeds to buy $13.67 billion of Bitcoin (BTC) in the six months ended June 30, 2026. Evernorth’s agreement allows optional share sales to one buyer rather than providing funds upfront. If all available shares were issued, they would equal about 16.7% of Evernorth’s post-issuance Class A shares, based on 26,094,680 shares outstanding on Oct. 22. Evernorth also agreed to a nonrefundable $521,893.50 commitment fee; upfront and additional commitment fees combined are capped at $1 million. Share sales cannot begin until the SEC declares the resale registration statement effective, Evernorth files a final prospectus and other contractual conditions are met. ## Links in this article - [institutional XRP plans](https://www.tokenpost.com/news/business/38285)