VivoPower secures Nasdaq ticker “TEMB” for planned Tembo listing

The combined entity, Tembo Group, is expected to database its mean shares and nationalist warrants connected Nasdaq nether the symbols “TEMB” and “TEMBW,” respectively, upon completion of the transaction.

The projected concern operation values Tembo astatine an indicative pre-money equity worth of astir $838 million. VivoPower indicated it expects to clasp a important equity involvement successful Tembo pursuing the transaction, taxable to last terms, including imaginable redemptions by Cactus Acquisition shareholders and different closing adjustments.

The woody remains taxable to respective conditions, including the US Securities and Exchange Commission declaring the Form F-4 registration connection effective, support from Cactus Acquisition shareholders, and different customary closing requirements.

VivoPower said the listing is intended to alteration Tembo to entree maturation superior independently portion perchance unlocking worth for its shareholders.

The institution besides noted that Tembo has antecedently secured semipermanent strategical concern superior from investors successful the Emirates and, arsenic a result, does not program to prosecute a structured backstage concern successful nationalist equity (PIPE) financing arsenic portion of the transaction.