VivoPower International has secured a $121 million private placement. This makes it the world’s first publicly traded company with an XRP-focused digital asset treasury strategy.
The NASDAQ-listed energy firm’s ambitious pivot was led by Saudi Arabia’s Prince Abdulaziz bin Turki Abdulaziz Al Saud. He spearheaded the investment round that priced shares at $6.05 each, above the company’s last market closing price.
VivoPower Royal Backing and Funding Allocation
Prince Abdulaziz bin Turki Abdulaziz Al Saud, Chairman of Eleventh Holding Company, brought significant credibility to the deal, having been a decade-long digital asset investor and a long-term XRP holder. The Saudi royal’s involvement extends beyond mere financial backing. He revealed that his team had met with President Donald Trump and his leadership group during a recent visit to Saudi Arabia. They discussed the optimal timing for deploying digital assets and blockchain technology in the Kingdom.
His endorsement carries particular weight given the current regulatory environment. XRP is expected to be included among five digital assets in President Trump’s Strategic Bitcoin Reserve and United States Digital Asset Stockpile.
VivoPower plans to establish a dedicated treasury and DeFi team focused on the XRP Ledger ecosystem. This would aim to reduce existing debt and provide working capital for operations. The company envisions developing real-world, decentralized finance blockchain solutions that address practical challenges, such as international wire payment friction.
Road Ahead
The deal remains subject to shareholder approval at a meeting expected around June 18, 2025, along with other customary closing conditions. Simultaneously, VivoPower is accelerating plans to spin off both Tembo and Caret Digital subsidiaries by the third quarter of 2025, effectively transforming the parent company into a pure-play XRP treasury vehicle.
This strategic transformation positions VivoPower at the forefront of institutional cryptocurrency adoption, potentially establishing a new model for public companies seeking exposure to digital assets while making meaningful contributions to blockchain ecosystem development.
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