From TokenPost · · 40s
Evernorth Warrants Test $18 Share-Price Threshold
Evernorth's warrants may be redeemed if stock sustains $18 test for 20 of 30 days.
In brief
Evernorth's warrants may be redeemed if stock sustains $18 test for 20 of 30 days. Evernorth Holdings Inc. could redeem its public warrants if its stock trades above $18 for 20 of 30 consecutive days, potentially generating $132.2 million in gross proceeds. Originally reported by TokenPost.
Redemption Test
Evernorth Holdings Inc. may redeem its public warrants if its stock clears a sustained $18 test for 20 of 30 consecutive trading days.
Current Prices
As of Oct. 16, XRPN traded at $15.45 and the warrants at $4.16 each.
Exercise Details
Each warrant gives its holder the right to purchase one share for $11.50, with 11,499,992 shares covered by the registration.
The one thing
Evernorth Holdings Inc. could redeem its public warrants if its stock trades above $18 for 20 of 30 consecutive days, potentially generating $132.2 million in gross proceeds.
