Ripple-backed Evernorth eyes $132M raise to fund more XRP purchases
AI summary
Evernorth, a treasury company backed by Ripple, is seeking to raise capital with plans to use the proceeds to buy more XRP. Existing warrants could supply up to $132.2 million in additional funding, according to its latest prospectus, which also details the cash and token contributions behind its treasury. Traders would read the move as fresh corporate demand for XRP, though the amount is modest relative to the token's market and the raise is not yet completed.
