Evernorth Seeks 10 Billion Share Authorization as it Targets XRP Growth

Evernorth Holdings is seeking authorization for up to 10 billion shares after its Nasdaq merger, which would enable it to target growth in XRP per share. The company's proposed charter would allow for 7.4 billion Class A shares, 100 million Class B shares, 2.4 billion Class C shares, and 100 million preferred shares.

The transaction itself covers about 34.5 million Class A shares and 11.5 million warrants, leaving Evernorth with substantial unused capacity after the combination closes. The company plans to enter the public market with more than 473.3 million XRP and increase its holdings through capital markets activity, institutional lending, liquidity provision, DeFi strategies, and participation across the XRP ecosystem.

Evernorth's capital flexibility raises the hurdle for growing XRP per share, as every additional share would increase the amount of XRP needed to maintain or improve this metric. The company has identified capital markets activity as one of its tools for growing XRP per share and plans to recycle returns from its strategies into additional XRP.