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VivoPower Fully Retires US$28.8 Million Shareholder Debt Principal, Strengthening Balance Sheet Ahead of Nordic AI Infrastructure Buildout
VivoPower (Nasdaq: VIVO) has fully retired US$28.8 million of shareholder debt principal previously owed to founding shareholder AWN Holdings, an entity affiliated with Executive Chairman and CEO Kevin Chin. This eliminates all outstanding principal obligations under the historical AWN shareholder loan facility.According to VivoPower, US$16.5 million of the debt was cancelled through AWN’s participation in the recently closed US$50 million PIPE 2, receiving 165,000 convertible preference shares on the same terms as third-party institutional investors and subject to a minimum six‑month lock‑up. The remaining US$12.3 million was repaid in cash. The company states that this removes a long‑standing balance sheet overhang, eliminates associated interest expense and materially improves credit quality ahead of its planned Nordic AI infrastructure platform buildout. The transaction, classified as a related party transaction, was reviewed and approved by VivoPower’s Audit and Risk Committee, composed solely of independent directors.