VivoPower International (VVPR) has released an update.
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VivoPower International’s subsidiary Tembo E-LV has entered into a definitive Business Combination Agreement with Cactus Acquisition Corp., valuing the combined entity at $904 million. The deal, subject to customary closing conditions and shareholder approval, aims to close by the end of 2024, with plans to list the new company on Nasdaq. This strategic move highlights Tembo’s commitment to providing electrification solutions for utility vehicle fleet owners and marks a significant step in VivoPower’s expansion in the sustainable energy solutions sector.
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