Evernorth Holdings has secured a $30 million financing commitment from South Korea’s NH Investment & Securities. The funding could expand the company’s XRP treasury strategy as it prepares for a planned public-market debut. Evernorth signed the note purchase agreement on September 11, according to regulatory filings.
The company plans to issue 4% convertible senior PIK notes due in 2031. However, the financing remains tied to Evernorth’s proposed business combination with Armada Acquisition Corp. II. The transaction could close during the fourth quarter of 2026.
Financing Could Boost XRP Purchases
Evernorth expects to use the proceeds for corporate purposes. Additionally, the company plans to direct part of the capital toward XRP acquisitions and ecosystem activities. Consequently, the financing could provide fresh resources for its digital-asset treasury operations.
The notes will accrue interest through additional principal rather than immediate cash payments. Moreover, the notes carry an initial conversion price of about $10.20 per share. The holder can convert the notes into cash, shares, or a combination.
XRP Gains as Treasury Plans Advance
XRP currently trades around $1.39, according to the market data provided. The token has gained 6.82% over 24 hours but remains slightly lower over seven days.
Related: XRPL 3.4.0 Upgrade Introduces Lending Features and Infrastructure Changes
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