Vivopower International Plc (VVPR) has released an update.
VivoPower International PLC is set to merge its subsidiary Tembo E-LV with NASDAQ-listed CCTS, a special purpose acquisition company, in a deal suggesting an $838 million equity value for Tembo. Upon completion, VivoPower shareholders will obtain five shares of the new Tembo Group for every share held. The merger is scheduled to finalize by August 2024, following the finalization of a Business Combination Agreement and an independent fairness opinion by early May 2024.
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