VivoPower decides to close F-1 offering, after successfully raising $4m in gross proceeds from institutional investors

Core Points - VivoPower International PLC has successfully closed its F-1 offering, issuing 3,200,000 Ordinary Shares to institutional investors, with the offering terminated on September 27, 2024 [1][2] - The offering generated approximately $4 million in gross proceeds, which will be allocated to debt reduction and funding inventory for customer orders [2] - The company has transitioned to a capital light business model, reducing the need for assembly and manufacturing facilities by leveraging its strategic supply chain across Asia [2] Company Overview - VivoPower, established in 2014 and listed on Nasdaq since 2016, is a global sustainable energy solutions B Corporation focused on electric solutions for customized fleet applications, along with ancillary financing, charging, battery, and microgrid solutions [5][6] - The company's core purpose is to provide turnkey decarbonization solutions, helping customers achieve net-zero carbon status, with operations in multiple countries including Australia, Canada, the Netherlands, the UK, the US, the Philippines, and the UAE [6]