Vivopower International Plc (VVPR) has released an update.
VivoPower International PLC has announced that its subsidiary, Tembo e-LV B.V., has secured the final tranche of a US$10 million investment from a private Emirati investment office, after meeting all required milestones. The investment values Tembo at a pre-money valuation of US$120 million, and comes as part of a strategic direct equity investment agreement made in June 2023. VivoPower maintains a majority stake in Tembo, which is also in the process of a business combination agreement with NASDAQ-listed CCTS, indicating a valuation of US$838 million.
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