VivoPower Secures $50M PIPE Led by Blue Sky Capital to Fund AI Data Center Project
VivoPower PLC has secured a $50 million private investment in public equity (PIPE) led by New York-based Blue Sky Capital, with participation from institutional investors across the US, Europe, UK, and Nordic regions. The funding will be used to support the operational conversion of its Mo i Rana AI data center in Norway and reduce corporate debt. The financing is structured as convertible preference shares at $7.50 per share into a fixed number of Class A ordinary shares. These securities include a 6% annual payment-in-kind coupon and fixed-price warrants priced above the market, with no variable share overhang. The company emphasized that this strategic move strengthens its balance sheet and accelerates growth in powered land and AI data center infrastructure. VivoPower's executive chairman and CEO Kevin Chin highlighted the significance of broadening their base of long-term institutional investors who align with the company’s vision for future development.