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Nasdaq-listed XRP treasury company Evernode (XRPN) has signed a stock purchase agreement to issue new shares worth $80.7 million to fund additional XRP purchases, according to CoinGape.
In a filing submitted to the U.S. SEC on Oct. 23, local time, Evernode said it entered into the agreement with CF Principal Investments, an affiliate of Cantor Fitzgerald, and plans to issue 5.2 million XRPN Class A common shares over the coming months. The purchase price is set at 97% of the average share price during that period. The proceeds will be used for additional XRP purchases and ecosystem activities.