On October 12, Evernorth Holdings shares (XRPN) began trading on the Nasdaq exchange. The following day, a Form 8-K filing with the SEC revealed the exact distribution of shares among key insiders. Chris Larsen, Ripple co-founder, directly controls 2,340,249 Class A shares, while Japanese financial conglomerate SBI Holdings received 9,431,914 Class A shares and 2,359,038 Class C shares, representing 7.5% of total Class C volume. Ripple Labs Inc. directly owns 1,678,382 Class A shares and shares control over an additional block of 4,215,479 shares with the deal sponsor. The stock price experienced a speculative surge to $48.50 in mid-September before correcting to $17.07 by October 13 close, losing nearly two-thirds of its peak value.
Source: Read the original article
