Ripple-backed Evernorth faces 73.7 million-share selling overhang after brutal stock market debut

Evernorth, an XRP treasury company, filed with the U.S. Securities and Exchange Commission on Oct. 30 to register 73.7 million shares for potential resale. The filing came as the company's share price fell following its Nasdaq debut. It identifies Ripple Labs, Arrington XRP Capital and affiliates of Japan's SBI Holdings among investors whose holdings could eventually enter the public market, meaning those shares may later be offered for sale to public investors.