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VivoPower announces binding heads of agreement to merge Tembo into NASDAQ listed CCTS at an indicative US$838m Equity Value
CCTSCactus Acquisition 1 (CCTS) Newsfilter·2024-04-02 15:19

Tembo E-LV ("Tembo"), a subsidiary of VivoPower International PLC ("VivoPower"), will merge with CCTS ("Cactus Acquisition Corp. 1 Limited"), a NASDAQ-listed company. Tembo will be the surviving entity and upon closing, will change its name to Tembo Group. CCTS has $25m of cash on its balance sheet, as of its last quarterly filing. VivoPower shareholders on the final record date will receive 5 Tembo Group shares for each 1 VivoPower share held. Final Business Combination Agreement, an independent fairness o ...