VivoPower shares jump 32% on $100M Ripple buy plan to boost XRP treasury
Main Idea
VivoPower International PLC's shares surged over 32% after announcing a $100 million plan to buy Ripple Labs shares and expand its XRP-focused digital asset treasury strategy.
Key Points
1. VivoPower plans to purchase $100 million worth of privately held Ripple Labs shares, pending approval from Ripple’s executive management.
2. The company aims to optimize yield maximization and minimize the weighted average cost of XRP acquired, with an implied acquisition cost of $0.47 per XRP.
3. VivoPower will work with BitGo for custody and Nasdaq Private Market for managing the Ripple share holdings.
4. Every $10 million in Ripple shares purchased could add an estimated $5.15 per share in value for VivoPower shareholders, depending on market volatility.
5. VivoPower will also continue acquiring XRP tokens directly, becoming the first publicly listed US firm to provide investors exposure to both Ripple equity and XRP tokens.
Description
VivoPower shares surged over 32% after announcing a $100 million plan to buy Ripple Labs shares, expanding its exposure to Ripple equity and XRP tokens.
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