Proceeds will fund conversion of VivoPower’s Mo i Rana AI data center in Norway and reduce corporate debt.
VivoPower PLC (NASDAQ:VIVO, FRA:51J) secured a $50 million private investment in public equity (PIPE) led by New York-based Blue Sky Capital, a specialist in AI data centers. The financing round included institutional investors from the US, Europe, UK, and Nordic regions, as well as family offices linked to VivoPower’s executive leadership.
The funds will support the operational conversion of VivoPower’s Mo i Rana AI data center in Norway and help reduce corporate debt. The PIPE is structured as convertible preference shares with a $7.50 conversion price, a 6% annual payment-in-kind coupon, and fixed-price warrants at a market premium.
The company stated the structure avoids variable share overhang, providing clarity for existing shareholders. Arctic Securities served as the sole placement agent for the transaction.