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VivoPower International PLC (NASDAQ:VVPR) shares are trading higher Wednesday after the company announced it has secured an extension for a $34 million loan financing facility agreement.
The Details:
VivoPower said its independent directors have secured an amendment and extension to its $34 million shareholder loan financing agreement with its major shareholder AWN Holdings Limited. The company has consolidated all of its shareholder loans and amended all of the outstanding loans to non-current status.
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AWN will also receive an option to acquire 1,150,000 Tembo shares from VivoPower post business combination with Cactus Acquisition Corp 1 Limited (NASDAQ:CCTS) at an exercise price of $1.35 per share, replacing the previous agreement to issue warrants on VivoPower shares.
VivoPower shares blasted higher following the after-hours announcement on Tuesday and are climbing again in early trading Wednesday. According to data from Benzinga Pro, more than 20.5 million shares have been traded before the opening bell, and the stock has a float of less than 1.6 million shares.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Vivopower's case, it is in the Utilities sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
VVPR Price Action: According to Benzinga Pro, VivoPower shares are up 80% at $4.58 at the time of publication Wednesday.
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