Evernorth Holdings has revised its planned Nasdaq debut structure, changing how XRP is valued for investor share allocations. According to the company, investors representing over 95% of committed capital approved the amended terms, effective expected late Q3 or early Q4 2026.
The original agreement priced XRP at $2.36 when calculating share allocations. The new mechanism uses XRP's volume-weighted average price at the transaction's closing date. If XRP trades below $2.36 at close, each $10 share could represent more XRP, potentially allowing Evernorth to issue fewer shares and increase XRP backing per share. The restructuring also adjusts sponsor founder shares proportionally. Evernorth backers include Ripple, SBI Group, Pantera Capital, Kraken, and GSR.
