VivoPower retires $28.8 million in shareholder debt

VivoPower PLC (NASDAQ: VIVO) announced the full retirement of $28.8 million in shareholder debt principal previously owed to AWN Holdings Limited, an entity affiliated with Executive Chairman and Chief Executive Officer Kevin Chin.

Of the total amount, $16.5 million was retired through AWN's participation in a recently closed $50 million private investment in public equity transaction, referred to as PIPE 2, announced on July 29, 2026. As part of that arrangement, 165,000 convertible preference shares were issued to AWN in exchange for the cancellation of the debt. The remaining $12.3 million was repaid in cash concurrently.

The AWN shareholder loan facility was originally established during VivoPower's early public market period to support strategic development and working capital needs. Following the retirement, the company states no remaining principal balance exists under the facility, though residual amounts including accrued interest are to be finalized and repaid separately.

Because AWN is affiliated with Chin, the transaction qualifies as a related party transaction under applicable disclosure requirements. VivoPower's Audit and Risk Committee, composed solely of independent directors, reviewed and approved the transaction under the company's Related Party Transactions Policy. The company noted that the PIPE 2 participation component was priced on terms identical to those available to third-party institutional investors, with AWN subject to a minimum six-month lock-up period.

VivoPower, listed on Nasdaq since 2016, holds data center and powered land infrastructure in Norway, Finland, and the United Arab Emirates.

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