VivoPower decides to close F-1 offering, after successfully raising $4m in gross proceeds from institutional investors
01 October 2024 - 3:57AM
VivoPower International PLC (NASDAQ: VVPR) ("VivoPower"), a global
sustainable energy solutions company, is pleased to announce it has
closed its F-1 offering, after the issuance of an aggregate of
3,200,000 Ordinary Shares to institutional investors. The offering
was terminated and closed after market on September 27, 2024.
The offering provides the Company with
approximately $4 million in gross proceeds, which will be used for
reducing debt and to fund inventory for customer orders. With the
Company now having transitioned to a capital light business model
leveraging its strategic supply chain across Asia, there is no
longer a requirement for it to build out assembly and manufacturing
facilities.
Chardan acted as the sole placement agent in
connection with this offering.
The securities described above were offered
pursuant to a registration statement on Form F-1, (Registration No.
333-281065), initially filed with the U.S. Securities and Exchange
Commission (the “SEC”) on July 26, 2024 (as amended and
supplemented, the “Registration Statement”). The Registration
Statement was declared effective on August 29, 2024. The final
prospectus was filed on September 19, 2024. The documents relating
to this Offering, including the Registration Statement and the
final prospectus, are available on the SEC’s website at
www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy any securities, nor
shall there be any sale of these securities in any jurisdiction in
which such offer, solicitation, or sale would be unlawful before
registration or qualification under the securities laws of any such
jurisdiction.
About VivoPower
Established in 2014 and listed on Nasdaq since
2016, VivoPower is an award-winning global sustainable energy
solutions B Corporation company focused on electric solutions for
off-road and on-road customised and ruggedised fleet applications
as well as ancillary financing, charging, battery and microgrids
solutions.
VivoPower’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 covering 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, statements
about the achievement of performance hurdles, or the benefits of
the events or transactions described in this communication 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, 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.
ContactShareholder
Enquiriesshareholders@vivopower.com
VivoPower (NASDAQ:VVPR)
Historical Stock Chart
From Oct 2024 to Nov 2024
VivoPower (NASDAQ:VVPR)
Historical Stock Chart
From Nov 2023 to Nov 2024