VivoPower International PLC (NASDAQ: VVPR) witnessed a sharp uptick in its stock price during the latest trading session, soaring by 23.42% to close at $6.43. The rally follows a series of significant corporate developments, including progress on a major equity transaction and a strategic move into digital assets.
Energi Advances Tembo Acquisition Deal
VivoPower confirmed that Energi Holdings Limited has successfully completed the second phase of due diligence for the proposed acquisition of Tembo, valuing the enterprise at US$200 million. Energi, a global energy solutions firm based in Abu Dhabi, operates across multiple regions including the Middle East, Africa, South Asia, Europe, and Southeast Asia, with annual revenues surpassing US$1 billion.
Following this milestone, both companies have agreed to proceed with finalizing the transaction structure and binding documents. They also affirmed their support for the completion of Tembo’s merger with Cactus Acquisition Corp. 1 Ltd (CCTSF), with the intention of pursuing an independent public listing for Tembo. VivoPower’s board will simultaneously assess the most effective deployment of investment proceeds, including potential capital returns or special dividends to shareholders.
Entry into Digital Assets Through BitGo Partnership
In a parallel development, VivoPower announced a strategic alliance with BitGo, a leading provider of digital asset infrastructure. After raising $121 million, VivoPower will allocate $100 million towards the acquisition of XRP tokens via BitGo’s exclusive over-the-counter (OTC) trading platform. BitGo will also serve as the custodian for these assets, offering secure cold storage and institutional-grade custody services.
BitGo to Power Digital Asset Strategy
The partnership enables VivoPower to leverage BitGo’s deep liquidity, efficient execution, and secure infrastructure for managing large digital asset transactions. BitGo’s capabilities position it as both a premier trading desk and a reliable custodian for institutional clients. The collaboration not only marks VivoPower’s strategic entry into the digital asset market but also reflects BitGo’s expanding role as a trusted partner for enterprises navigating large-scale cryptocurrency investments.
