Evernorth Holdings, the XRP-focused treasury, is getting ready to launch their product on NASDAQ. However, the pure-play XRP company added a few additional amendments to their XRP deal, establishing a brand new deal with their current stakeholders.
Sponsored
Evernorth plans to go public through a business combination with Armada Acquisition Corp. II, while representatives said 95% of the enterprise investors agree with the fresh set of rules.
The original share allocations were determined when the OG altcoin was priced at $2.35, far higher than the present $1 XRP price tag.
The Real Math Behind This Top-Tier XRP Treasury
Instead of using that technique, the amended version is using XRP’s volume-weighted average price closer to the transaction’s closing date. Private-placement investors have already subscribed to primary shares at $10 per share. If XRP’s price remains under $2.35, Evernorth isn’t obliged to release more shares – on the contrary.
In that case, the $10 regular share is worth more XRP & the treasury needs more XRP to back one share for their customers. The company’s backed by Ripple, SBI Group, Pantera Capital, Kraken, Arrington Capital and GSR, giving Evernorth a solid reputation to start with.
The new treasury player’s aim is to participate in the broader XRP ecosystem, rather than just speculating on the altcoin’s market value. “Tying the share count to XRP’s value at closing is the right thing to do for Evernorth and our investors”, – explained Asheesh Birla, founder and CEO of Evernorth.
“We’re preserving alignment among investors while supporting our long-term strategy of building institutional access to the XRP ecosystem”, he continued. With the reduction of issued shares, spreading the company’s net asset value across fewer shares so that each share represents a bigger portion.
Dive into DailyCoin’s hottest crypto scoops today:
Trezor Warns of Phishing Risk After 14,000-Customer Data Leak
How Stablecoin Regulation Drives Blockchain Innovation 2026