VivoPower PLC (VIVO) Registration Filing summary

Company overview and business model

• Operates as a global sustainable energy solutions B Corporation, focusing on electric vehicle (EV) solutions, battery and microgrids, solar, and critical power technology and services.

• Business is segmented into Electric Vehicles (Tembo), Solar Development, Sustainable Energy Solutions (SES), Critical Power Services, and Corporate Office.

• Tembo specializes in ruggedized EV conversion kits and OEM electric utility vehicles for sectors like mining, infrastructure, and government.

• SES provides turnkey decarbonization solutions, including on-site renewables, batteries, microgrids, and EV charging.

• Recent strategic focus includes divesting non-core assets to concentrate on EV and SES growth.

Financial performance and metrics

• For the year ended June 30, 2023, revenue was $15.1M, with a gross loss of $2.3M and net loss of $24.4M.

• For the six months ended December 31, 2023, revenue was $5.9M, gross profit $0.5M, and net loss $7.8M.

• Cash and cash equivalents as of December 31, 2023, were $0.1M, with total debt of $33.2M.

• Adjusted EBITDA for FY2023 was a loss of $9.9M; current asset-to-liability ratio as of December 31, 2023, was 0.37:1.

• Material uncertainty exists regarding the ability to continue as a going concern without additional funding.

Use of proceeds and capital allocation

• Net proceeds from the offering will fund working capital for commercial EV expansion, debt reduction (including shareholder loans), and general corporate purposes.

• Proceeds may also be used for potential acquisitions of complementary businesses or technologies.

• No minimum offering amount; actual proceeds may be significantly less than the maximum.