VivoPower International PLC Announces Intent to Spin-Off of Caret Digital via a Direct Listing on Nasdaq and Dividend Share Distribution

Core Viewpoint - VivoPower plans to spin off its subsidiary Caret Digital through a direct listing on Nasdaq, allowing shareholders to receive dividend shares and focusing on cryptocurrency mining, particularly Dogecoin [1][2][3][4]. Group 1: Spin-off Details - VivoPower shareholders will receive five shares of Caret Digital for each VivoPower share held, with an implied market capitalization of $250 million, subject to market conditions [3]. - The decision for a direct listing instead of a reverse merger is based on cost efficiency and a simpler process for distributing shares to shareholders [2]. Group 2: Caret Digital's Strategy - Caret Digital will focus on mining Dogecoin and converting it to Bitcoin to optimize returns, leveraging current DOGE mining economics [4]. - The company plans to raise$10 million from strategic investors to support its growth plans [3]. Group 3: Company Background - VivoPower, established in 2014 and listed on Nasdaq since 2016, focuses on sustainable energy solutions and aims to provide turnkey decarbonization solutions [7]. - Caret Digital is a wholly owned subsidiary of VivoPower, developing renewable power infrastructure integrated with high energy consumption use cases, starting with DOGE mining [8].