VivoPower Worldwide PLC has outlined a method to amass $100 million Ripple shares as a part of a broader initiative to combine XRP into its company treasury, in line with an Aug. 11 assertion.
In line with the assertion, the $100 million funding will expose VivoPower to 211 million XRP tokens, presently valued at round $696 million.
VivoPower stated it is going to maintain each Ripple shares and XRP tokens as a part of the technique, changing into the primary publicly listed US firm to supply its shareholders entry to each. The twin acquisition method permits the agency to safe Ripple shares at a reduction in comparison with market costs.
Importantly, VivoPower will get hold of full authorized possession of the Ripple shares it acquires, with its title recorded immediately on Ripple’s shareholder register. The agency has partnered with main digital asset custodians comparable to BitGo and Nasdaq Non-public Market LLC to facilitate these transactions.
VivoPower CEO Kevin Chin emphasised that this transfer aligns with VivoPower’s long-term goal of constructing a sturdy treasury mannequin that diversifies its holdings and affords vital upside potential for its shareholders.
The agency additionally famous that it’s going to keep away from buying Ripple shares held in special-purpose autos (SPVs) because of the additional charges and complexities they create. An impartial auditor will conduct quarterly critiques of VivoPower’s Ripple shareholdings to make sure transparency and accountability.
Ripple’s fundraising
VivoPower’s buy of Ripple’s share comes lower than per week after the US Securities and Alternate Fee (SEC) granted the blockchain agency a waiver from the “unhealthy actor” designation.
The designation had stemmed from a 2020 lawsuit by which the SEC accused Ripple of promoting unregistered securities.
Whereas the events settled in Could 2025, the injunction technically remained in place. The regulator stated latest circumstances justified the waiver, clearing the best way for Ripple to hunt new funding with out authorized limitations.
Following the waiver, pro-crypto lawyer John Deaton said:
“Ripple can proceed to lift cash within the non-public markets. One would possibly even argue, it’s enterprise as normal – as if the lawsuit in opposition to Ripple and the $125M positive by no means occurred.”
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