Evernorth’s 73.7M-share XRPN resale has holders lining up as the stock takes a Friday dip

Ripple-backed XRP treasury company Evernorth Holdings has filed with the US SEC to offer and sell 73,688,162 shares of Class A common stock, alongside 239,653 sponsor warrants held by shareholders.

The registered shares include 19.1 million already-issued and outstanding shares held by selling securityholders, up to about 31.4 million XRPN shares issuable upon conversion of Class C common stock, and up to 22.95 million XRPN shares issuable upon redemption or exchange of company units.

The 239,653 shares issuable upon exercise of the sponsor warrants carry an exercise price of $11.50 per share. The warrants are held by Arrington XRP Capital Fund, Cohen & Company Securities and Northland Securities.

Selling shareholders include SBI Holding and subsidiaries, Ripple, Arrington XRP Capital Fund, Chris Larsen, Payward and Gumi. Evernorth Holdings said it will not receive proceeds from sales by the selling securityholders, excluding proceeds from cash exercise of the sponsor warrants.

XRPN stock closed 3.47% lower at $14.20 on Friday amid XRP and broader crypto market selloffs.