VivoPower’s Caret Digital Secures CAD$140m Definitive Binding Investment Commitment

Source: www.gulfoilandgas.com 1/13/2025, Location: Europe

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

VivoPower International PLC ("VivoPower" or the "Company") announced 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.

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.

VivoPower shareholders had previously approved a spin-off of Caret Digital, in whole or part, as well as a special dividend during the Annual General Meeting held in December 2023. The Company will provide further updates in relation to the progress of the spin off via a reverse merger and the consequences for VivoPower and its stakeholders, including any special dividend shares for VivoPower shareholders.


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