VivoPower’s Tembo reaches important milestone for Nasdaq listing

VivoPower has reached a significant achievement in its journey towards a public listing on Nasdaq with the discreet submission of an F-4 registration statement to the SEC for the proposed business combination with its subsidiary, Tembo e-LV, and the special purpose acquisition company, Cactus Acquisition Corporation I. This submission marks a crucial step towards Tembo establishing itself as a publicly traded entity on Nasdaq, providing the company with a dedicated platform to drive its global expansion efforts.

Upon completion of the business combination, the merged entity will be branded as Tembo Group N.V. and is anticipated to have its ordinary shares and public warrants listed on Nasdaq under the tickers “TEMB” and “TEMBW” correspondingly. The targeted closing date for this transaction is projected to be in March 2026, contingent upon the approval of the necessary regulatory bodies, including the SEC and Nasdaq.

Tembo has made significant headway in terms of product adoption, with its range of offerings gaining traction in various regions like Africa, Australia, and the Philippines. The company’s diverse product suite, which includes the Tuskers, EUV conversion kits, and E-jeepneys, has garnered substantial interest from customers in these markets, showcasing the affordability, durability, and operational efficiency of Tembo’s technology. VivoPower remains dedicated to fulfilling its pledge of delivering value to shareholders while simultaneously offering viable decarbonization solutions to combat environmental challenges.

In recent months, Tembo has been actively engaged in the conversion of multiple EUV kits and successfully delivered the first batch of EUV conversion kits to esteemed safari partners in Africa. Notable partners such as Asilia and The Safari Collection have embraced Tembo’s cutting-edge technology, becoming among the first safari companies to operate fully electric-converted Land Cruisers. Additionally, Tembo has established a new base in Nairobi, Kenya, recruiting local engineers to provide on-the-ground support to its clientele, in collaboration with its regional partner, Associated Vehicle Assemblers.

Moreover, Tembo has kickstarted sales of its fully electric utility pick-up vehicle, the Tembo Tusker, in Australia after securing homologation in compliance with updated Australian regulatory standards. In the Philippines, Tembo’s collaboration with industry leader Sarao Motors has received formal backing from the Philippines Department of Transport, as directed by the Office of the President. This endorsement follows the successful delivery of electric jeepneys with modern internal architecture but traditional external and internal designs. These developments have set the stage for enhanced sales efforts in the coming year, with Tembo intensifying collaboration with Sarao Motors to address incoming sales inquiries effectively.

This article contains forward-looking statements that outline the anticipated benefits of the proposed business combination, the future financial performance of CCTS, Tembo, and the combined entity post-merger, market changes, expansion strategies, R&D investments, and product launch timelines. It is imperative to note that these statements are based on assumptions and managerial expectations and do not serve as foolproof guarantees of actual performance. The unpredictable nature of events and external factors beyond the companies’ control underscores the inherent risks and uncertainties associated with such projections.