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VivoPower Says Energi to Proceed With Acquisition of 51% Stake in Tembo
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VivoPower Says Energi to Proceed With Acquisition of 51% Stake in Tembo
Aug 18, 2025 6:22 AM

08:59 AM EDT, 08/18/2025 (MT Newswires) -- VivoPower International ( VVPR ) said Monday that Energi will proceed to acquire a 51% stake in VivoPower's ( VVPR ) Tembo e-LV unit through a private investment in public equity investment at a $200 million valuation.

With this confirmation, Tembo can now resume filing a registration statement on its proposed business combination with special purpose acquisition company Cactus Acquisition Corp 1, VivoPower ( VVPR ) said.

The company said Energi's proposed investment will be adjusted for Tembo's net debt and is subject to Tembo's business combination deal with Cactus Acquisition.

VivoPower ( VVPR ) said its board has started to look for board members for Tembo ahead of its listing as a public company.

Shares of VivoPower ( VVPR ) were down over 5% in recent premarket activity Monday.

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