VivoPower Shares Surge On $120 Million Takeover Proposal From UAE-Primarily based Energi Holdings – Vivopower Intl (NASDAQ:VVPR)

VivoPower Worldwide PLC VVPR shares are buying and selling larger on Wednesday after the corporate introduced it obtained a non-binding takeover proposal from Energi Holdings.

Energi’s unsolicited takeover proposal is an all-cash supply for all non-affiliated free float shares of VivoPower at a $120 million enterprise worth, pending due diligence.

Energi is an Abu Dhabi-based power options agency, which generates round $1 billion in income and operates throughout the Center East, Africa, South Asia, Europe, and Southeast Asia.

Each events intention to finalize negotiations on worth, phrases, and situations by April 2, with VivoPower’s board set to offer a market replace accordingly.

Final week, VivoPower disclosed that it has engaged advisors to facilitate the spin-off of its subsidiary, Caret LLC, via a direct itemizing on Nasdaq.

VivoPower plans to distribute 5 shares of Caret Digital for every VivoPower share held as of a future file date.

The implied market capitalization is estimated at $250 million, topic to market situations.

Moreover, Caret Digital goals to lift $10 million from strategic buyers to assist its development initiatives.

Worth Motion: VVPR shares are up 121% at $5.00 on the final examine Wednesday.

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