VivoPower International PLC, listed on Nasdaq, has successfully obtained a $121 million Regulation S private placement. This funding will support the creation of the world's first publicly traded XRP-focused corporate treasury. The initiative, led by Prince Abdulaziz bin Turki Abdulaziz Al Saud, saw his Eleventh Holding Company contribute around $100 million to the project. Investors acquired 20 million new ordinary shares at $6.05 each, providing VivoPower with a significant cash infusion. This move, according to Executive Chairman Kevin Chin, marks a transformative moment for the company. The investment from Prince Abdulaziz represents the largest disclosed amount for an on-balance-sheet XRP reserve. VivoPower aims to utilize the majority of the funds to accumulate XRP tokens and support decentralized finance projects on the XRP Ledger. The company also plans to reduce debt and bolster working capital in preparation for the upcoming spin-offs of its subsidiaries. Shareholder approval is pending, with a vote scheduled for June 18, 2025. The announcement has generated positive reactions within the XRP community, with analysts and commentators praising the strategic move and its potential impact on the digital asset landscape. Read more AI-generated news on: https://app.chaingpt.org/news

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