[Form 4] A-Mark Precious Metals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

VivoPower International PLC (VVPR) has received a Nasdaq notice confirming that it now satisfies Listing Rule 5550(b)(1), which requires a minimum US$2.5 million in stockholders’ equity. The company reversed its previously reported US$40.5 million equity deficit (FY 2024) by completing the first phase of a US$121 million private placement, generating US$60.5 million in gross proceeds. This capital infusion eliminates the immediate delisting threat. Nasdaq will continue to monitor compliance; failure to maintain the threshold in the FY 2025 report could still result in delisting proceedings, subject to appeal. The Form 6-K is incorporated into several existing S-8 and F-3 registration statements.

Positive

• Regained Nasdaq compliance under Rule 5550(b)(1), removing immediate delisting threat.
• Raised US$60.5 million via private placement, converting a US$40.5 million deficit into positive equity.

Negative

• Ongoing monitoring means VVPR could face delisting again if equity dips below US$2.5 million in FY 2025.
• Partial financing risk: only the first US$60.5 million of the US$121 million placement has closed.

Insights

Securities Analyst

TL;DR: Capital raise restores equity, lifts delisting threat—overall positive for VVPR shares.

VivoPower’s US$60.5 million placement shifts the firm from a US$40.5 million deficit to compliance with Nasdaq’s equity listing rule. Removing the delisting overhang should improve liquidity and investor confidence, while preserving access to U.S. capital markets. The deal represents the first half of a planned US$121 million raise, suggesting further balance-sheet strengthening is possible. Although no earnings metrics were disclosed, the event is materially positive because it safeguards listing status and enhances financial flexibility.

Risk Analyst

TL;DR: Compliance achieved, but sustainability risk remains until full capital plan closes.

Nasdaq will reassess equity at the FY 2025 filing; if VVPR’s ongoing losses erode the new capital, the company could re-enter deficiency status. Only US$60.5 million of the US$121 million placement is closed, exposing investors to execution and dilution risk for the remaining tranche. Management must demonstrate operating improvements to prevent future deficits. Consequently, while today’s news is a relief, the long-term risk profile is unchanged until profitability or full financing is secured.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gjerdrum Thor

(Last) (First) (Middle)

2121 ROSECRANS AVE

SUITE 6300

(Street)

EL SEGUNDO CA 90245

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
A-Mark Precious Metals, Inc. [ AMRK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	06/30/2025		F(1)		5,347	D	$22.18	61,838	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of Common Stock withheld to satisfy tax withholding obligations in connection with the settlement of an award of restricted stock units.

Remarks:

	/s/Carol Meltzer, by power of attorney	07/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Why did VivoPower (VVPR) receive a new Nasdaq letter?

Nasdaq confirmed VVPR now meets the US$2.5 million minimum stockholders’ equity requirement after its recent capital raise.

How much capital did VVPR raise to regain compliance?

The company secured US$60.5 million in gross proceeds from the first phase of a US$121 million private placement.

Does Nasdaq compliance guarantee VVPR will remain listed?

No. Nasdaq will review equity levels with the FY 2025 report; non-compliance could still trigger delisting proceedings.

What was VVPR’s equity position prior to the capital raise?

As of June 30 2024, VVPR reported a US$40.5 million stockholders’ equity deficit.

Is the entire US$121 million private placement completed?

Only the first US$60.5 million tranche has closed; the remainder is pending future phases.