Evernorth registered up to 73.7 million shares with the SEC for potential resale, nearly three times the number of its outstanding Class A shares. Arrington XRP Capital Fund, Ripple Labs, entities connected to SBI Holdings and the Larsen Lam Children’s Remainder Trust are among the major shareholders concerned. However, the registration does not confirm an intention to sell, and several lock-up agreements restrict transfers until April 9, 2027. Listed on Nasdaq under the ticker XRPN, the company debuted at $19.39 on October 12 before falling to $11.70 on November 2, while a future increase in the supply of shares could weigh on its stock price.
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