- Â VivoPower raises $19M to advance XRP-based treasury strategy.
- Â VivoPower secures funding to strengthen digital asset initiatives.
- Â New $19M funding reinforces VivoPower’s XRP-focused corporate strategy.
VivoPower International has closed a $19 million equity raise at a price of $6.05 per share. This placement follows the company’s previous $121 million raise, supporting its strategy to anchor its corporate treasury in XRP. VivoPower plans to use the new funds to strengthen its position in digital assets while addressing financial obligations.
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VivoPower’s Push Into Digital Assets Continues
VivoPower is taking a significant step toward digital assets through its current treasury strategy. The company has increased the price by raising $19 million, which further confirms its interest in XRP. According to a statement by the company, this positioning positions VivoPower to grow into the digital asset space.
The new equity issue will help the company finance its XRP-based treasury strategy and also service its debt. VivoPower has publicly said it plans to be the first Nasdaq-traded company to base its corporate treasury on XRP. This plan follows a larger reorganization process, which also involves selling off traditional businesses in favor of digital holdings and payment technologies.
The new round of funding is an extension of VivoPower’s previous $121 million placement. When Prince Abdulaziz bin Turki bin Talal Al Saud was in charge of the first raise, he invested $100 in the business. In that round, VivoPower sold 20 million shares at the same price as the most recent placement at $6.05 per share.
VivoPower’s Restructuring Efforts and Leadership Moves
VivoPower has hired Adam Traidman to its board of directors as part of its continuing restructuring. Traidman is the founder of Ripple Asia, a former executive, and a veteran specializing in blockchain and payments infrastructure.
His appointment also puts VivoPower in line with professionals in the digital assets and cryptocurrency market.
It has also been apparent that the company will focus solely on XRP and related technologies. The new investment brings us a step closer to our objective of building a corporate treasury based on XRP, said VivoPower.
The decision also highlights VivoPower’s eagerness to become a leader in implementing blockchain technology for corporate treasury management.
VivoPower shares surged up to 26% following the initial market response to the $121 million price increase. The stock, however, witnessed a minor pullback later and closed with an 11% gain.
The latest equity placement of $ 19 million is expected to further secure the company’s future in the rapidly growing digital assets industry.
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