(RTTNews) – VivoPower International PLC (VVPR), an energy solutions provider, Thursday announced that it has agreed to acquire OGDC Pte Ltd, an AI data center infrastructure developer.
This transaction is set to close in February, and the company surmises to secure an economic interest in 291MW of strategic land across Finland, which is expected to be grid-connected within 12 months.
The acquisition comprises of around $13 million cash upfront to be paid from VivoPower’s cash reserves and the issuance of convertible preference shares with a conversion price of $15 per ordinary share which is triggered only when successful grid connection happens.
In pre-market activity, VVPR shares were trading at $2.11, down 10.58% on the Nasdaq.
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