VivoPower Announces Binding Heads Of Agreement To Merge Tembo Into Nasdaq Listed CCTS At An Indicative $838M Equity Value; CCTS Will Issue 83.8M Shares In Exchange For Tembo Shares At $10/Share
Portfolio Pulse from Benzinga Newsdesk
VivoPower International PLC (VVPR) and Cactus Acquisition Corp. 1 Limited (CCTS) announced a merger agreement, with Tembo, a VivoPower subsidiary, merging into CCTS at an $838M equity value. CCTS will issue 83.8M shares at $10/share for Tembo shares. VivoPower shareholders will receive a dividend of Tembo Group shares, with the merger expected to close by August 2024. Chardan Capital Markets LLC is the financial advisor for the transaction.
April 02, 2024 | 3:22 pm
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Cactus Acquisition Corp. 1 Limited (CCTS) will merge with Tembo, a VivoPower subsidiary, at an $838M equity value, issuing 83.8M shares at $10/share. The merger is targeted for completion by August 2024.
The merger with Tembo positions CCTS in a strategic market, potentially increasing its stock price in the short term. The equity valuation and share issuance details are crucial for assessing the merger's impact on CCTS's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
VivoPower International PLC (VVPR) announced a merger of its subsidiary Tembo into CCTS, with VivoPower shareholders receiving a dividend in Tembo Group shares. The merger is expected to close by August 2024.
The merger and subsequent dividend of Tembo Group shares to VivoPower shareholders could lead to positive sentiment among investors, potentially increasing VVPR's stock price in the short term. The merger's successful completion and the strategic positioning of Tembo Group post-merger are key factors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100