VivoPower International PLC announced on May 28, 2025, an agreement for a private capital raise of US$121 million, priced at US$6.05 per share, which is above the last market closing price of US$6.04 under Nasdaq rules. This capital raise was spearheaded by His Royal Highness Prince Abdulaziz bin Turki Abdulaziz Al Saud of Saudi Arabia.
The company is undertaking a strategic transformation to become the world's first publicly listed XRP-focused digital asset enterprise, aiming to build out the XRPL ecosystem for real-world decentralized finance blockchain solutions. Adam Traidman, a former Ripple board member, has invested in the offering and joined VivoPower’s Board of Advisors as Chairman.
The funds raised will primarily be used to accumulate XRP and establish its XRP-focused treasury operations, contribute to the XRPL DeFi ecosystem, reduce debt, and for general corporate purposes. The closing of the offering is subject to shareholder approval, expected around June 18, 2025, and other customary closing conditions.
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