Evernorth filed to register 73.7 million shares for potential resale after its shares fell following its Nasdaq debut. The amount represents nearly three times the outstanding Class A stock, with Ripple Labs, Arrington XRP Capital and four SBI Holdings-affiliated entities among the major holders concerned. XRPN declined about 40% from its October 12 high of $19.39 before closing at $11.70 on November 2. The preliminary document says 19.1 million shares were already issued, while another 54.34 million could become tradable through conversions or exchanges subject to restrictions. Ripple, Arrington XRP Capital and the Larsen Lam Children’s Remainder Trust remain locked up until April 9, 2027, subject to exceptions, and the registration confirms neither an immediate sale nor any intent to liquidate their full holdings.
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