VivoPower International Shares Surge After Merger Announcement

VivoPower International (NASDAQ:VVPR) shares surged after recent announcements, giving shareholders in excess of triple-digit returns. But as VVPR stock continues to make new 52-week highs, potential investors on the sidelines may be questioning whether they might have missed out entirely on the rally. Could the stock still have more upside going forward? On April 2, VivoPower subsidiary Tembo E-LV announced that it would be going public via a merger with special purpose acquisition company Cactus Acquisition Corp. (CCTS), and upon closing of the deal, the combined company would remain Nasdaq-listed under the name Tembo Group. A total of 16.76 million Tembo Dividend Shares, representing 20% of the 83.8 million shares, will be distributed to Vivo Power shareholders, who will receive 5 Tembo Group shares for each VivoPower share held. The final merger agreement and independent fairness opinion will be finalized in May, with the merger targeted for completion by August 2024. This deal would be massively beneficial to VivoPower International (NASDAQ:VVPR) shareholders. Since the transaction was announced, VivoPower’s trading volume has surged, topping 120 million shares, eclipsing its daily average of about 45,100 shares and its previous one-day record of 11.05 million shares.