Evernorth closes XRP treasury merger after 80.3 percent of SPAC shares redeem
Evernorth Holdings closed its XRP treasury business combination Friday after holders redeemed 18,463,753 SPAC shares, or 80.3 percent of the shares with redemption rights, according to its Form 8-K.
The redemptions returned about $195.39m at roughly $10.58 a share. The deal also brought in about $214.05m of advance-subscription cash and $10.5m of delayed funding, plus XRP contributions from Ripple, the sponsor and other investors.
The filing puts the three-day closing XRP price at $1.43069, down from the $2.36609 signing price. Immediately after closing, Evernorth had 22,268,905 Class A shares, 32,211,992 Class C shares and 11,739,645 warrants outstanding. Former SPAC public holders owned about 21.8 percent of Class A shares.
The document: Evernorth Holdings Form 8-K, October 9, 2026.