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$100M Move: How VivoPower Landed 211M XRP at an Unseen Discount
In a significant move, Nasdaq-listed VivoPower has announced the acquisition of $100 million worth of privately held Ripple shares, accompanied by a whopping 211 million XRP tokens. The company is purchasing these assets at an astonishing 86% discount from the current market price.
This landmark deal makes VivoPower the first US-listed entity to be exposed to both Ripple shares and XRP, marking a major shift in the cryptocurrency landscape.
According to the announcement, the acquisition will follow a two-month due diligence period and is subject to approval by Ripple’s board. The transaction includes a share in Ripple’s wider operations, encompassing the RLUSD stablecoin business, Hidden Road, and Metaco.
VivoPower has partnered with BitGo for custody services and Nasdaq Private Market to facilitate the transactions.
The company’s executive chairman, Kevin Chin, emphasized that this strategic move will enable investors to optimize their yield by combining Ripple shares and XRP tokens. By positioning itself as a holder of Ripple’s 41 billion XRP reserves, VivoPower aims to capitalize on long-term profitability.
Notably, the acquisition includes a massive 211 million XRP purchase at an average cost of $0.47 per token. In contrast, the company would have only received a meager 30 million XRP tokens if it had purchased them at market rates of $3.29. This unprecedented discount has already seen the value of the stash increase to approximately $696 million.
The deal also highlights VivoPower’s intention to reduce its investors’ average acquisition cost for XRP, allowing for greater capital efficiency and a potential boost in profitability.
This move underscores a growing trend among companies seeking to bolster their cryptocurrency treasuries. Trident Digital Tech Holdings has announced plans to raise $500 million for its own XRP treasury, while China-based Webus has committed $300 million to the acquisition of XRP. Similarly, firms like Wellgistics Health and Hyperscale Data have adopted similar strategies.
The VivoPower deal is one of the largest such acquisitions by a Nasdaq-listed entity, further solidifying the company’s position as a pioneer in this space.
Source: blockonomi.com
