Nasdaq-listed Evernorth Holdings has secured a committed equity facility with Cantor Fitzgerald affiliate CF Principal Investments LLC that could generate approximately $80 million in gross proceeds, with part of the capital earmarked for expanding its XRP treasury strategy and building products across the XRP ecosystem.
The common stock purchase agreement covers up to 5,218,935 shares of Evernorth’s Class A common stock. Based on the company’s October 22, 2026 closing price, the facility could raise around $80.7 million, although actual proceeds will depend on market conditions. Evernorth Chief Financial Officer Matt Frymier said the arrangement is “our first step in putting facilities in place to help grow and manage our treasury in an accretive manner for shareholders.”
Evernorth, which completed its business combination with Armada Acquisition Corp. II and began trading on Nasdaq under the ticker XRPN, already holds roughly 473 million XRP in its treasury. Following its public listing, the company appointed Hugo Jeadesboz as Chief Investment Officer and announced relationships with Ripple, Kraken, Coinbase, and BitGo to deploy XRP into institutional strategies beginning in the fourth quarter of 2026.
Beyond spot acquisitions, Evernorth intends to explore opportunities on the XRP Ledger as lending and on-chain credit markets develop. The announcement arrives as Ripple expands its Treasury platform, introducing AI-powered automation and 24/7 Returns designed to let eligible corporate clients earn returns on qualifying digital assets such as the RLUSD stablecoin.
