Full Press Release Details
VivoPower decides to close F-1 offering, after successfully raising $4m in
gross proceeds from institutional investors
of common stock only
will be used to reduce debt and fund inventory for customer orders
to capital light business model significantly reduces funding requirements
September 30, 2024 /GLOBE NEWSWIRE/ - 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
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.
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.
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.
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.
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.
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.