LONDON, April 02, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") hereby provides an update on the non-binding takeover offer from Energi Holdings Limited (“Energi”) to acquire the non-affiliated shareholders of VivoPower at an enterprise valuation of US$180 million and the Tembo business combination agreement with Cactus Acquisition Corporation 1 Limited (“CCTS”) at a combined enterprise valuation of US$904 million, assuming no public trust redemptions for CCTS.

As announced on 26 March 2025, VivoPower’s board was targeting the completion of negotiations on price, terms and conditions with Energi by 2 April 2025. This has been achieved with an increase in the original takeover enterprise value of US$120million to US$180million subject to a due diligence exclusivity period being granted and the completion of due diligence by Energi. Both parties are collaborating to complete the due diligence process as efficiently as possible, with the goal of finishing before the 8-week deadline.

VivoPower will also continue to work towards filing an F-4 registration statement with the U.S. Securities and Exchange Commission (SEC) in relation to the Tembo business combination agreement and is intending to file within the month of April 2025. An update on any Tembo dividend share entitlement for VivoPower shareholders will be provided in due course.

The board of VivoPower will continue to provide updates to the market on a timely basis.

About VivoPower 

Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for off-road and on-road customized and ruggedized fleet applications as well as ancillary financing, charging, battery and microgrids solutions. VivoPower’s core purpose is to provide its customers with turnkey decarbonization solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.