secwatch.observer — SEC 8-K summary
======================================

Issuer:     Evernorth Holdings Inc. (—)
CIK:        0002092592
Form:       8-K
Filed at:   2026-10-09T20:25:19+00:00
Accession:  0001193125-26-419146
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.68
Item codes: 1.01, 2.01, 3.02, 8.01, 9.01, 3.01, 3.03, 5.03, 5.01, 5.02, 5.05, 5.06, 7.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2092592/000119312526419146/0001193125-26-419146-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2092592/000119312526419146/d24481d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-419146

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer