VivoPower to Focus on Data Center Growth, to Separate Non-Core Businesses
VivoPower (VIVO) said Thursday it plans to focus on scaling its AI data center business by separating its two non-core businesses, Tembo and Caret Digital. The Tembo business is awaiting approval from the US Securities and Exchange Commission for a merger with Cactus Acquisition Corp. If completed, the combined company is expected to trade on Nasdaq under the ticker "TEMB," with VivoPower retaining a minority stake. Meanwhile, VivoPower intends for a full separation of Caret Digital, with its entire stake potentially distributed to shareholders on a pro rata basis. Shares rose around 4.7% in recent after-hours trading.
VivoPower (VIVO) said Thursday it plans to focus on scaling its AI data center business by separating its two non-core businesses, Tembo and Caret Digital. The Tembo business is awaiting approval from the US Securities and Exchange Commission for a merger with Cactus Acquisition Corp. If completed, the combined company is expected to trade on Nasdaq under the ticker "TEMB," with VivoPower retaining a minority stake. Meanwhile, VivoPower intends for a full separation of Caret Digital, with its entire stake potentially distributed to shareholders on a pro rata basis.
7% in recent after-hours trading.