VivoPower Announces 50% Hike In Enterprise Value From Energi As Takeover Talks Steam Ahead: Retail Remains Extremely Bullish

VivoPower International Plc. (VVPR) shares will be in focus on Thursday after the company announced that it had negotiated a 50% hike in enterprise value from Energi Holdings with respect to its takeover offer.

VivoPower’s shares fell over 4% in Wednesday’s regular trade and declined by another 6% during after-hours trading.

The company announced that it has agreed to Energi’s higher takeover bid, which pegs VivoPower’s enterprise value at $180 million, up from $120 million before.

VivoPower said Energi has been granted an exclusivity period to complete its due diligence process.

At the same time, the company is pressing forward with its business combination with Tempo, which values the combined enterprise at $904 million. VivoPower says it expects to file an F-4 statement with the U.S. Securities and Exchange Commission (SEC) by the end of April.

Energi Holdings is an Abu Dhabi-based company with $1 billion in revenues. It has operations in the Middle East, Africa, South Asia, Southeast Asia, and Europe.

VivoPower is a UK-headquartered sustainable solutions company that offers battery technology and electric vehicle services. It had a market capitalization of $28.6 million at the end of trading on Wednesday.

Retail sentiment on Stocktwits around VivoPower continued to be in the ‘extremely bullish’ territory, with message volumes remained elevated at ‘extremely high’ levels at the time of writing.'

One bullish user is hoping for markets to get a breather and help VivoPower’s stock move upwards in the next week.

VivoPower’s stock is up more than 412% over the past month.

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