VivoPower International PLC Announces Intent to Spin-Off of Caret Digital via a Direct Listing on Nasdaq and Dividend Share Distribution
VivoPower International (Nasdaq: VVPR) has announced plans to spin off its subsidiary Caret Digital through a direct listing on Nasdaq. The company will distribute 5 Caret Digital shares for each VivoPower share held, with an implied market capitalization of $250 million (subject to market conditions).
Caret Digital plans to focus on Dogecoin (DOGE) mining with Bitcoin (BTC) conversion strategy to optimize returns. The company aims to raise $10 million from strategic investors to support growth plans. The spin-off decision, previously approved by shareholders in December 2023, was chosen over a reverse merger for cost efficiency and timeline advantages.
The transaction's completion remains subject to market conditions, with no firm guarantees of consummation under the current terms.
VivoPower International (Nasdaq: VVPR) ha annunciato piani per scorporare la sua controllata Caret Digital attraverso una quotazione diretta su Nasdaq. L'azienda distribuirà 5 azioni di Caret Digital per ogni azione di VivoPower detenuta, con una capitalizzazione di mercato implicita di 250 milioni di dollari (soggetta a condizioni di mercato).
Caret Digital prevede di concentrarsi sul mining di Dogecoin (DOGE) con una strategia di conversione in Bitcoin (BTC) per ottimizzare i ritorni. L'azienda punta a raccogliere 10 milioni di dollari da investitori strategici per sostenere i piani di crescita. La decisione di scorporo, precedentemente approvata dagli azionisti nel dicembre 2023, è stata scelta rispetto a una fusione inversa per motivi di efficienza dei costi e vantaggi temporali.
Il completamento della transazione rimane soggetto a condizioni di mercato, senza garanzie ferme di conclusione secondo i termini attuali.
VivoPower International (Nasdaq: VVPR) ha anunciado planes para escindir su filial Caret Digital a través de una cotización directa en Nasdaq. La empresa distribuirá 5 acciones de Caret Digital por cada acción de VivoPower que se posea, con una capitalización de mercado implícita de 250 millones de dólares (sujeta a condiciones de mercado).
Caret Digital planea centrarse en el minado de Dogecoin (DOGE) con una estrategia de conversión a Bitcoin (BTC) para optimizar los rendimientos. La empresa tiene como objetivo recaudar 10 millones de dólares de inversores estratégicos para apoyar sus planes de crecimiento. La decisión de escisión, aprobada previamente por los accionistas en diciembre de 2023, fue elegida en lugar de una fusión inversa por razones de eficiencia de costos y ventajas en el cronograma.
La finalización de la transacción sigue sujeta a condiciones de mercado, sin garantías firmes de consumación bajo los términos actuales.
VivoPower International (Nasdaq: VVPR)는 자회사 Caret Digital를 Nasdaq에 직접 상장함으로써 분리할 계획을 발표했습니다. 회사는 VivoPower 주식 1주당 Caret Digital 주식 5주를 배포하며, 시장 상황에 따라 2억 5천만 달러의 암시적 시가총액을 갖습니다.
Caret Digital은 도지코인(DOGE) 채굴에 집중하고 비트코인(BTC) 변환 전략을 통해 수익을 최적화할 계획입니다. 회사는 성장 계획을 지원하기 위해 전략적 투자자로부터 1천만 달러를 모금할 목표를 세우고 있습니다. 2023년 12월 주주들에 의해 이전에 승인된 분리 결정은 비용 효율성과 일정상의 장점으로 인해 역합병 대신 선택되었습니다.
거래 완료는 시장 상황에 따라 달라지며, 현재 조건 하에서의 확정적인 보장은 없습니다.
VivoPower International (Nasdaq: VVPR) a annoncé des projets de scission de sa filiale Caret Digital par le biais d'une cotation directe sur Nasdaq. L'entreprise distribuera 5 actions de Caret Digital pour chaque action de VivoPower détenue, avec une capitalisation boursière implicite de 250 millions de dollars (sous réserve des conditions du marché).
Caret Digital prévoit de se concentrer sur le minage de Dogecoin (DOGE) avec une stratégie de conversion en Bitcoin (BTC) pour optimiser les rendements. L'entreprise vise à lever 10 millions de dollars auprès d'investisseurs stratégiques pour soutenir ses plans de croissance. La décision de scission, précédemment approuvée par les actionnaires en décembre 2023, a été choisie plutôt qu'une fusion inversée pour des raisons d'efficacité des coûts et d'avantages de calendrier.
La réalisation de la transaction reste soumise aux conditions du marché, sans garanties fermes de conclusion selon les termes actuels.
VivoPower International (Nasdaq: VVPR) hat Pläne angekündigt, ihre Tochtergesellschaft Caret Digital durch eine direkte Notierung an der Nasdaq auszugliedern. Das Unternehmen wird 5 Caret Digital-Aktien für jede gehaltene VivoPower-Aktie verteilen, mit einer implizierten Marktkapitalisierung von 250 Millionen Dollar (vorbehaltlich der Marktbedingungen).
Caret Digital plant, sich auf das Mining von Dogecoin (DOGE) mit einer Bitcoin (BTC) Umwandlungsstrategie zu konzentrieren, um die Renditen zu optimieren. Das Unternehmen zielt darauf ab, 10 Millionen Dollar von strategischen Investoren zu sammeln, um Wachstumspläne zu unterstützen. Die Entscheidung zur Ausgliederung, die zuvor von den Aktionären im Dezember 2023 genehmigt wurde, wurde aus Kosteneffizienz- und Zeitvorteilen gegenüber einer Umkehrfusion gewählt.
Der Abschluss der Transaktion bleibt von den Marktbedingungen abhängig, ohne feste Garantien für die Durchführung unter den aktuellen Bedingungen.
- Distribution of 5 Caret Digital shares per VVPR share as dividend
- Significant implied market cap of $250M for the new entity
- Strategic $10M capital raise planned to support growth
- Cost-efficient direct listing approach versus reverse merger
- Transaction completion subject to market conditions with no guarantees
- Final market cap may vary based on market conditions
- Cryptocurrency mining focus carries high market volatility risk
VivoPower subsidiary, Caret Digital, to be spun off via a direct Nasdaq listing
VivoPower shareholders as of a future record date, to receive 5 Caret Digital dividend shares per VivoPower share held
Implied market capitalisation of
Caret Digital to focus on Dogecoin (DOGE) mining with BTC conversion to optimize returns and yield
LONDON, March 20, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") announced today that it has engaged advisors to support in executing its plan to spin off its subsidiary, Caret LLC ("Caret Digital"), through a direct listing on the Nasdaq Stock Market (“Nasdaq”).
The decision to effectuate a spin off via a direct listing rather than a reverse merger is based on expediency and efficiency in relation to cost and timeline, as well as the ability to more readily distribute dividend shares to VivoPower shareholders. Furthermore, this avoids the complexities of a reverse listing into a Canadian or other non-Nasdaq listed shell company as previously considered.
It is proposed that VivoPower shareholders as at a future record date, will be entitled to receive five (5) shares of Caret Digital for each VivoPower share held. The implied market capitalisation is
Caret Digital’s strategy will initially focus on cryptocurrency mining, with an emphasis on mining Dogecoin (DOGE) as previously announced. Leveraging DOGE mining economics, the company will convert mined DOGE into Bitcoin (BTC), securing BTC at an effective discount (based on current DOGE mining economics), which will then allow it to execute on strategies to optimise BTC yield and returns.
The spin-off plan was previously approved by VivoPower shareholders at the Company’s Annual General Meeting held in December 2023. Furthermore, at the Annual General Meeting in December 2024, shareholders authorized the Company to proceed with mergers or divestments, as deemed appropriate, in alignment with the Company's strategic objectives.
As part of the planned spin-off, there can be no assurances that VivoPower will consummate the proposed transaction on the terms currently contemplated, or at all, as it will be subject to market conditions.
About VivoPower
Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focussed 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.
About Caret Digital
Caret, LLC (trading as Caret Digital), a wholly owned subsidiary of VivoPower, and has a Power-to-X strategy involving the development of renewable power infrastructure that is vertically integrated with high energy consumption use cases. In the first phase of its Power-to-X strategy, Caret Digital is building up capacity and infrastructure to mine DOGE coin, aligning with the growing demand for sustainable blockchain operations.
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 and Caret’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.
Contact
Shareholder Enquiries
shareholders@vivopower.com
FAQ
How many Caret Digital shares will VVPR shareholders receive in the spin-off?
What is the expected market capitalization of Caret Digital after the VVPR spin-off?
How much capital does Caret Digital plan to raise from strategic investors?
What is Caret Digital's mining strategy after the VVPR spin-off?
