Evernorth Holdings files for $80.7 million Nasdaq IPO under ticker XRPN
As seen on the 24/7 Wall St. homepage on October 23, 2026.
Evernorth files S-1 for $80.7 million Nasdaq IPO
Evernorth Holdings registered an $80.7 million Nasdaq IPO, offering 5.22 million shares with Cantor Fitzgerald and StoneX running the books. Pricing terms are still blank, so the valuation debate starts with the next amendment.
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Evernorth Holdings Inc. has registered a Nasdaq initial public offering with a target deal size of $80.7 million, with Cantor Fitzgerald and StoneX as joint bookrunners.
The filing is still at an early stage: no price range has been set, which means the implied valuation per share remains an open question until the company submits its first amendment. That next amendment is the moment to watch, as it will frame how Evernorth is asking the market to value the business.
Having two established bookrunners in Cantor Fitzgerald and StoneX signals that institutional distribution is already being organized, even before pricing terms are public. The named deal size and a proposed ticker suggest the company is moving with intent.
For investors tracking the IPO pipeline, the $80.7 million size places this at the smaller end of the mid-cap offering range, the segment that can see meaningful first-day price discovery once institutional orders form around a price range.