Why VivoPower International Stock (VVPR) Is Up Over 300%
Portfolio Pulse from Henry Khederian
VivoPower International PLC (VVPR) shares surged by 323% to $6.18 after announcing its Tembo subsidiary will merge with Cactus Acquisition Corp. 1 Limited (CCTS). The merger involves CCTS issuing 83.8 million shares at $10 each for Tembo, valuing Tembo at $838 million pre-money. VivoPower shareholders will receive a dividend in Tembo shares, with the transaction expected to complete in May 2024.
April 02, 2024 | 4:44 pm
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VivoPower International's stock surged due to the announcement of its subsidiary Tembo merging with CCTS, indicating strong market approval of the deal.
The significant surge in VVPR's stock price reflects the market's positive reception to the merger announcement with CCTS. The deal's valuation of Tembo at $838 million pre-money and the dividend distribution to VivoPower shareholders are likely driving investor optimism.
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