VivoPower Secures Nasdaq Ticker Approval for Tembo Listing Valued at $838 Million
Nasdaq has approved the reservation of the "TEMB" ticker symbol for Tembo Group, the combined entity from VivoPower’s Tembo e-LV and Cactus Acquisition Corporation I, marking a regulatory milestone. The business combination values Tembo at a pre-money equity valuation of US$838 million and requires no PIPE financing thanks to Emirates-backed capital.
1. Regulatory Milestone: Nasdaq Approval of 'TEMB' Ticker
Nasdaq's approval of the 'TEMB' ticker symbol marks a key regulatory milestone in the proposed listing of Tembo Group, the result of VivoPower’s Tembo e-LV and Cactus Acquisition Corporation I combination.
2. Transaction Structure and Valuation
The business combination values Tembo Group at a pre-money equity valuation of approximately US$838 million and secures long-term Emirates-backed capital, eliminating the need for structured PIPE financing.
3. Next Steps and VivoPower Equity Stake
The transaction remains subject to final closing conditions, including SEC effectiveness of the Form F-4 and CCTS shareholder approval. Upon completion, VivoPower expects to retain a significant equity interest in Tembo Group, subject to redemption and other closing adjustments.