VivoPower International (VVPR) said Wednesday it will remain listed on Nasdaq under a revised $180 million takeover proposal from Energi Holdings to acquire 80% of the company's freely traded shares.
Energi supports VivoPower's plans to spin off Tembo through a SPAC merger valued at $838 million, and Caret Digital's IPO with an implied market capitalization of $250 million.
The merger with Tembo and SPAC partner Cactus Acquisition is expected to close by Q2, VivoPower said.
VivoPower plans a direct listing for Caret Digital on Nasdaq or NYSE American, offering shareholders five Caret Digital shares per VivoPower share held.
Caret Digital's business model will initially focus on mining Dogecoin and converting it into Bitcoin at a discounted rate, VivoPower said.
Shares of VivoPower were down 1.4% in recent trading.
Price: 3.49, Change: -0.05, Percent Change: -1.41
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