The investment commitment is in the form of a share subscription facility from GEM Global Yield LLC SCS ("GGY”) and is subject to a separate listing of Caret Digital on a Canadian stock exchange GGY’s shareholding will be capped at 9.9% Funds will be invested at the Caret Digital subsidiary level and hence non-dilutive for VivoPower shareholders Funds from the investment will be used to execute upon Caret Digital’s Power-to-X strategy ("P2X”) which seeks to activate the highest and best use cases for renewable power capacity First phase of Caret Digital’s P2X strategy is building out capacity including data centre infrastructure for DOGE coin mining Second phase of Caret Digital’s P2X strategy is AI enabled data centres DOGE coin mining is consistent with Caret Digital’s Power-to-X strategy that seeks to activate the highest and best use cases for renewable power capacity LONDON, Jan.13, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") announced today that its wholly owned subsidiary, Caret LLC.(trading as "Caret Digital”), has secured a CAD$140m (approximately US$100m) definitive and binding investment commitment from Luxembourg headquartered alternative investment group, GGY.
These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission.
Proceeds from the investment will be used to execute on and build out Caret Digital’s Power2X strategy, including in its first phase, the mining of DOGE coin, as well as for working capital and general corporate purposes.
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