VivoPower International to Acquire Ripple Labs Shares

VivoPower International announced plans to acquire shares of Ripple Labs to strengthen its XRP-focused digital asset treasury strategy. Following this announcement, the company’s shares rose by 10% in morning trading.

After a nearly two-month due diligence process, VivoPower has allocated $100 million to acquire initial shares of Ripple held in the private equity market. The company plans to continue purchasing and holding XRP tokens directly.

This acquisition will make VivoPower the first and only publicly traded company in the United States to provide shareholders direct access to both Ripple shares and XRP coins.

According to the company’s statement, for every $10 million in Ripple shares purchased, VivoPower (VVPR) shareholders can expect an increase in value of approximately $5.15 per share.

Ripple Labs, supported by investors like Andreessen Horowitz and Google Ventures, holds 41 billion XRP, which is about 41% of all XRP coins in circulation.

*This is not investment advice.