VivoPower International (VVPR) shares soared 76% in recent trading on Friday after the power infrastructure company's unit, Tembo E-LV, said it had completed a review of new rules governing special purpose acquisition company transactions, which is required to complete the business combination with Cactus Acquisition.
Tembo E-LV said the merger deal, which was announced in August, was originally scheduled to be completed by the end of last year, but was delayed due to the new rules.
Tembo E-LV said a registration statement will soon be filed on Form F-4 with the US Securities and Exchange Commission regarding the proposed merger, which it now expects to be completed by the end of Q2.
Price: 1.49, Change: +0.64, Percent Change: +75.73
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