VIVOPOWER ANNOUNCES CESSATION OF FURTHER SALES OF SHARES UNDER PURCHASE AGREEMENT WITH INSTITUTIONAL INVESTOR
17 October 2023 - 12:18AM
VivoPower International PLC (Nasdaq: VVPR, the “Company”) announced
today that its Board of Directors has resolved not to provide
further notices for the Company to sell ordinary shares to White
Lion Capital LLC (“White Lion”) pursuant to the Ordinary Share
Purchase Agreement signed on October 6, 2023 (the “Purchase
Agreement”). Under the terms of the Purchase Agreement, upon
receipt of purchase notices from the Company, White Lion is
obligated to purchase up to $2,300,000 in ordinary shares (the
“Commitment Amount”) from time to time until the earlier of (i)
December 23, 2023 or (ii) the date on which White Lion has
purchased ordinary shares in an amount equal to the Commitment
Amount. As of October 16, 2023, White Lion had purchased an
aggregate of 50,000 ordinary shares pursuant to the Purchase
Agreement.
The shares to be issued and sold to White Lion under the
Purchase Agreement were offered by the Company pursuant to a
registration statement on Form F-3 (File No. 333-251304) (the
“Registration Statement”), previously filed and declared effective
by the U.S. Securities and Exchange Commission on December 23,
2020, the base prospectus filed as part of the Registration
Statement, and the prospectus supplement dated October 6, 2023 (the
“Prospectus Supplement”).
About VivoPower
VivoPower is an award-winning global sustainable energy
solutions B Corporation company focused on electric solutions for
customised and ruggedised fleet applications, battery and
microgrids, solar and critical power technology and services. The
Company’s core purpose is to provide its customers with turnkey
decarbonisation solutions that enable them to move toward net-zero
carbon status. VivoPower has operations and personnel in Australia,
Canada, the Netherlands, the United Kingdom, the United States, the
Philippines, and the United Arab Emirates.
Forward-Looking Statements
This communication includes certain statements that may
constitute “forward-looking statements” for purposes of the U.S.
federal securities laws. Forward-looking statements include, but
are not limited to, statements that refer to projections, forecasts
or other characterisations of future events or circumstances,
including any underlying assumptions. The words “anticipate,”
“believe,” “continue,” “could,” “estimate,” “expect,” “intends,”
“may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements may include, for example, the anticipated impact that
the events or transactions described in this communication may have
on the Company and the expected returns therefrom. These statements
are based on VivoPower’s management’s current expectations or
beliefs and are subject to risk, uncertainty, and changes in
circumstances. Actual results may vary materially from those
expressed or implied by the statements herein due to changes in
economic, business, competitive and/or regulatory factors, and
other risks and uncertainties affecting the operation of
VivoPower’s business. 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, the outcome of any potential claims
or litigation arising out of the transactions described in this
communication, and other factors set forth in VivoPower’s filings
with the United States Securities and Exchange Commission. The
information set forth herein should be read in light of such risks.
VivoPower is under no obligation to, and expressly disclaims any
obligation to, update or alter its forward-looking statements
whether as a result of new information, future events, changes in
assumptions or otherwise.
Contact
Shareholder Enquiries
shareholders@vivopower.com
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