VivoPower, which is named an XRP treasury firm, has issued new shares as a way to increase a complete of $19 million.
Notably, the publicly traded agency is elevating the aforementioned sum at $6.05 per share, which is greater than the present market value. This reveals that there’s vital demand.
The newly raised sum supplies the corporate with extra liquidity for future XRP purchases.
Gaining extra XRP publicity
The corporate beforehand introduced one other share providing beneath Regulation S, that means that the funds would come from non-US buyers. On this case, it was a $121 million non-public placement led by a Saudi prince.
After adopting the Ripple-linked token as its core asset, VivoPower then partnered with XRPL-based yield era protocol Doppler Finance to deploy an preliminary $30 million of XRP.
Final month, the corporate additionally introduced that it will purchase $100 million price of privately held Ripple shares as a way to improve its publicity to the token.
Furthermore, it introduced that it will be exchanging the tokens procured with the assistance of its proof-of-work (PoW) mining operation for XRP.