VivoPower engages advisors to fast-track spin off Caret Digital

VivoPower (VVPR) announced that it has engaged advisors to fast-track execution in relation to its previously announced plan to directly spin off Caret through an IPO on Nasdaq. The implied market capitalisation for the spin-off is $308M. Additionally, Caret Digital intends to raise up to $50M from strategic investors as part of the transaction to support growth plans and it has been engaged in negotiations with counterparties in the Middle East and Asia. Since the election of US President Donald Trump and the recent investment of the Trump brothers in digital asset mining, there has been a significant increase in interest in digital asset mining activities outside of the United States, including in countries where such activity has previously been prohibited. In addition, renewable power sources at sub 3c/watt have been identified. It is proposed that VivoPower shareholders as at a future record date, will be entitled to receive five shares of Caret Digital for each VivoPower share held. VivoPower lodged a notice in accordance with Nasdaq rules that provides at least 10 calendar days’ notice of an ex-date.