10:01 AM EDT, 03/20/2025 (MT Newswires) -- VivoPower International ( VVPR ) said Thursday it plans to spin off its subsidiary Caret Digital through a direct listing on Nasdaq.

The company said it has engaged advisors to assist with the planned spin-off, in which its shareholders will receive five Caret Digital shares for each VivoPower ( VVPR ) share owned, with an estimated market capitalization of $250 million, pending market conditions.

Caret Digital also plans to raise $10 million from strategic investors to fund its growth initiatives, and will initially focus on cryptocurrency mining with an emphasis on Dogecoin (DOGE-USD) and convert it into Bitcoin (BTC-USD) to maximize returns.

The transaction's completion depends on market conditions and is not guaranteed under the current terms, VivoPower ( VVPR ) said.

Shares of VivoPower ( VVPR ) were up more than 4% in recent Thursday trading.

Price: 0.77, Change: +0.03, Percent Change: +4.32