NEWS
VIVOPOWER’S TEMBO EXTENDS HEADS OF AGREEMENT EXCLUSIVITY FOR US$838M MERGER WITH CCTS
VivoPower International PLC (Nasdaq: VVPR) announced that its electric vehicle subsidiary, Tembo e-LV B.V., has extended its exclusive heads of agreement with Cactus Acquisition I (Nasdaq: CCTS) until August 31, 2024. This one-month extension aims to provide Tembo with additional time to finalize a material transaction and update disclosuresbefore completing a definitive business combination agreement for the proposed US$838 million merger. The extension will also allow time for an independent fairness opinion to be prepared. This development suggests that VivoPower is progressing towards a significant strategic move in the electric vehicle sector, potentially enhancing its market position and shareholder value.
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