Why Is Vivopower (VVPR) Stock Up 101% Today?

  • Vivopower (VVPR) stock is up alongside a new loan agreement.
  • That includes amending its $34 million loan with AWN Holdings Limited.
  • This will grant it options to acquire stock after a merger with Cactus Acquisition Corp 1 Limited (CCTSW).
VVPR Stock - Why Is Vivopower (VVPR) Stock Up 101% Today?

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Vivopower (NASDAQ:VVPR) stock is on the rise Wednesday as investors react to the sustainable energy solutions company securing an extended loan financing facility agreement.

Vivopower says that it has entered into an agreement with its major shareholder AWN Holdings Limited. This consolidates all of its loans at VivoPower International PLC level and amends them to non-current status.

This improves Vivopower’s balance sheet as it prepares for a combination with Cactus Acquisition Corp 1 Limited (NASDAQ:CCTSW). It also grants AWN Holdings Limited an option to acquire 1.15 million shares of Tembo stock after the merger of the two companies.

AWN Holdings Limited will be able to exercise these options at a price of $1.35 per share. These shares will represent 1.3% of outstanding Tembo stock. Additionally, they will be subject to a six-month lockup period.

VVPR Stock Movement Today

This news brings with it heavy trading of Vivopower shares on Wednesday. That has more than 15 million shares changing hands as of this writing. This is well above its daily average trading volume of about 1.2 million shares.

VVPR stock is up 101% as of Wednesday morning. The stock was up 36.4% year-to-date when markets closed yesterday.

Investors will find more of the latest stock market stories for today below!

We have all of the most recent stock market news worth reading about on Wednesday! Among that is what has shares of Ampco-Pittsburgh (NYSE:AP) stock up, the biggest pre-market stock movers and more. All of this news is ready at the links below!

More Stock Market News for Wednesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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