VivoPower, which is known as an XRP treasury company, has issued new shares in order to raise a total of $19 million.
Notably, the publicly traded firm is raising the aforementioned sum at $6.05 per share, which is higher than the current market price. This shows that there is significant demand.
The newly raised sum provides the company with additional liquidity for future XRP purchases.
Gaining more XRP exposure
The company previously announced another share offering under Regulation S, meaning that the funds would come from non-US investors. In this case, it was a $121 million private placement led by a Saudi prince.
After adopting the Ripple-linked token as its core asset, VivoPower then partnered with XRPL-based yield generation protocol Doppler Finance to deploy an initial $30 million of XRP.
Last month, the company also announced that it would acquire $100 million worth of privately held Ripple shares in order to enhance its exposure to the token.
Moreover, it announced that it would be exchanging the tokens procured with the help of its proof-of-work (PoW) mining operation for XRP.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team