Evernorth Links Share Count to XRP Closing Price Ahead of Stock Market Listing
Evernorth Holdings, the largest public XRP treasury company, has revised its terms for listing on the stock market.
The company's investors will now base their shares on XRP's value at closing, rather than the original $2.36 price used when the deal was agreed upon.
This change aims to align the share structure with the actual value of XRP holdings at closing, which would mean fewer shares are issued if XRP remains below the $2.36 level.
According to Evernorth, this adjustment would spread its XRP treasury across fewer shares, resulting in each share representing a larger portion of the company's underlying XRP holdings.
Evernorth CEO Asheesh Birla stated that linking the share count to XRP's closing price preserves investor alignment while supporting the company's strategy to expand institutional access to the XRP ecosystem.