Evernox, a company that holds XRP in reserve, is seeking additional funding.

According to the U.S. Securities and Exchange Commission on Oct. 26, Evernox on Oct. 23 filed an S-1 registration statement covering up to 5,218,935 common shares.

The filing was made under a stock purchase agreement Evernox signed with investment firm CF Principal Investments.

Based on its closing price of $15.46 a share on Oct. 22, the company said it could raise as much as about $80.7 million.

Evernox plans to use the proceeds for additional XRP purchases, XRP ecosystem-related businesses and general corporate purposes, including working capital.