EverNorth filing shows XRP slide erased merger bonuses, $132M raise

EverNorth's SEC filing reveals XRP fell 40% between the company's merger signing and closing, eliminating the adjustment-share bonuses early investors had been due. The filing also clears the Nasdaq-listed XRP treasury company to raise up to $132 million through warrant exercises — proceeds it can direct toward further XRP accumulation under its stated strategy.

• The prospectus registers roughly 11.5 million warrant shares; full cash exercise of the warrants could generate about $132 million in gross proceeds.
• The disclosure follows EverNorth's Nasdaq debut and its naming of Ripple, Kraken, Coinbase and BitGo as partners to deploy its 473 million XRP treasury.