Vivopower International Plc Stock Price, News & Analysis

VivoPower International PLC (Nasdaq: VVPR) has announced a strategic heads of agreement to merge with Future Automotive Solutions and Technologies Inc. (FAST) at a pro-forma combined equity value of US$1.13bn. The proposed all-stock merger values VivoPower equity at US$556 million (implying a share price of US$101 per VVPR share) with FAST equity valued at US$578 million. VivoPower is expected to issue 5.72 million restricted shares as consideration for FAST. Post-merger, VivoPower shareholders are expected to own 49% of the combined group. The merger is conditional upon closing of the previously announced business combination with CCTS and separate listing of Tembo. The agreement provides for a 90-day exclusivity period to reach a definitive agreement, with a target completion date of December 31, 2024.

VivoPower International PLC (NASDAQ: VVPR) has announced a non-binding distribution heads of agreement with Sansure Biotech Inc for Mpox diagnostic tests and detection kits in Singapore, Hong Kong, and Australia. This initiative is part of VivoPower's business continuity planning protocols to safeguard employees and supply partners and customers. As a certified B , VivoPower is committed to the triple bottom line of People, Planet, and Profit. Selected VivoPower management will fund pro bono distribution to disadvantaged communities. The company intends to reinvest any surplus profits from Mpox distribution agreements into its core sustainable energy solutions business.

The World Health Organization declared the Mpox outbreak a public health emergency of international concern on August 14, 2024. As of June 2024, there have been 99,176 confirmed cases and 208 deaths reported across 116 countries, with Africa experiencing the highest transmission rates.

VivoPower International PLC (Nasdaq: VVPR) reported preliminary unaudited results for FY2024. Annual consolidated revenue declined 22% to $11.8 million, reflecting a strategic shift towards Electric Vehicle and Sustainable Energy Solutions. Gross profit increased 170% to $1.6 million. Underlying net loss was ($25.1) million, with EPS of ($8.01). Cash balance increased to $0.8 million.

Key highlights include Tembo E-LV executing a Business Combination Agreement with CCTS at a $904 million enterprise value, and the sale of Kenshaw Electrical for A$5.0 million. Tembo achieved milestones in EUV powertrain delivery, joint ventures, and supply chain establishment.

Tembo E-LV, a subsidiary of Nasdaq-listed VivoPower International PLC (VVPR), has executed a definitive Business Combination Agreement (BCA) with Cactus Acquisition Corp. 1 (CCTS). The deal values the combined enterprise at US$904 million, assuming no public trust redemptions. An independent third-party fairness opinion was obtained and completed satisfactorily.

The parties expect to file a registration statement on Form F-4 with the SEC and aim to close the transaction by the end of 2024, subject to regulatory approvals and CCTS shareholder approval. Upon completion, the newly formed Tembo Group will apply for Nasdaq listing. Chardan is acting as the exclusive financial advisor, with White & Case LLP and NautaDutilh N.V. serving as legal counsel to VivoPower and Tembo.

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 31 August 2024. This one-month extension aims to provide Tembo with additional time to finalize a material transaction and update disclosures before 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 the merger process is progressing, albeit with some delays, as both parties work towards finalizing the deal.

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 disclosures before 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.

VivoPower International (Nasdaq: VVPR) has successfully secured an amendment and extension to its US$34 million shareholder loan financing agreement with AWN Holdings. This agreement consolidates all existing shareholder loans into a single tranche and reclassifies them as non-current liabilities, enhancing VivoPower's balance sheet. Additionally, AWN Holdings is granted an option to buy 1,150,000 Tembo shares at $1.35 per share, which will be locked up for at least six months post-business combination with Cactus Acquisition Corp 1. The extension affirms shareholder confidence in VivoPower's strategy and the Tembo transaction.

VivoPower International PLC (Nasdaq: VVPR) announced that its electric vehicle subsidiary, Tembo e-LV B.V., has extended its exclusivity period for the heads of agreement with Cactus Acquisition I (Nasdaq: CCTS) to finalize their proposed merger. The new deadline is July 31, 2024. The extension aims to allow both parties to finalize the definitive business combination agreement and secure an independent fairness opinion. The merger, valued at approximately $838 million, is intended to enhance strategic growth and market presence for both companies.

VivoPower International PLC (Nasdaq: VVPR) announced that its electric vehicle subsidiary, Tembo e-LV B.V., has agreed to a one-month extension of its exclusive heads of agreement with Cactus Acquisition I (Nasdaq: CCTS). The exclusivity period now extends to 31 July 2024. This extension aims to provide additional time to finalize the definitive business combination agreement and obtain an independent fairness opinion for the proposed US$838 million merger.