Evernorth closes Ripple-backed de-SPAC; 80.3% redeemed at $10.58, 22.3M Class A shares outstanding

Evernorth Holdings Inc.

Business combination closed Oct 9, 2026: Pathfinder Digital Assets merged into Pubco Evernorth; Ripple contributed 126,791,458 XRP tokens for 18,139,927 Company Units.
Redemptions: 18,463,753 SPAC Class A shares (~80.3% of redeemable) redeemed at ~$10.58/share, aggregate ~$195.39M.
Advance funding: 10,123,015 Class A + 2,905,659 Class C for ~$214.05M cash and 600,000 XRP; delayed funding: 663,510 Class A for $10.5M cash and 200,000 XRP.
Series C: Arrington XRP Capital Fund LP got 926,878 Class A + 29,306,333 Class C for 211,319,096 XRP; Larsen Lam Trust got 623,509 Class A + 6,529,941 Company Units for 50M XRP.
Post-closing outstanding: 22,268,905 Class A, 32,211,992 Class C, 11,739,645 Pubco Warrants; XRP reference price fell from $2.36609 (signing) to $1.43069 (closing).

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