Evernorth’s $XRP Play Is In the Money as SEC Greens a Path to 11.5M XRPN Shares 🪙

The US Securities and Exchange Commission (SEC) has declared effective a prospectus allowing Ripple-backed Evernorth Holdings to issue up to 11,499,992 shares of XRPN Class A common stock upon the cash exercise of public warrants at $11.50 per share. If all warrants are exercised for cash, Evernorth could receive approximately $132.25 million in gross proceeds to fund further $XRP purchases and expand its treasury.

Evernorth has stated that it plans to issue more shares to buy more $XRP as part of its strategy to grow a concentrated XRP position and maximize XRP per share. An October 20, 2026 post from Xaif Crypto highlighted the company’s plans. The October prospectus registers the 11,499,992 Class A shares as issuable upon warrant exercise; it does not mean all those shares have been released, and the actual number issued will depend on warrant exercises.

The SEC filing lists a December 27, 2012 expiration date for the public warrants and a $11.50 exercise price. As of Oct. 16, XRPN shares last traded at $15.45 and the XRPN warrant traded at $4.16, placing the warrants in the money because the stock was above the exercise price. XRPN was near $15.1 in premarket trading.

$XRP rose more than 5% to $1.35 amid the treasury-growth news.