Cavitation Technologies entered into definitive purchase agreements with BrightFlixx Finance (Luxembourg), providing for cash tender offers for all outstanding shares of Cavitation Technologies and Alchemy Beverages.
The proposed transactions have an aggregate cash value of $42 million.
BrightFlixx is proposing $35 million for Cavitation Technologies and $7 million for Alchemy Beverages.
The new agreements replace previously announced tender offer agreements with European Guarantee Services, which have been terminated.
Cavitation Technologies said the material terms of the BrightFlixx agreements are substantially similar to those contemplated under the previous transaction.
Bright Wealth Banking remains the financing institution involved in the proposed transactions.
BrightFlixx expects to commence the tender offers and make the required filings under the Securities Exchange Act of 1934.
The tender offers had not yet commenced at the time of the announcement.
Cavitation Technologies develops nanotechnology systems used across industrial water treatment, oil and gas produced-water remediation, renewable fuels, and digital asset infrastructure.
The company holds more than 40 patents worldwide.
KEY QUOTES:
“The execution of these definitive tender offer agreements reflects the continuity of the transaction process. The same core transaction participants and financing institution remain involved, and this continuity is intended to help expedite the regulatory and tender-offer process.”
Neil Voloshin, CEO of Cavitation Technologies
“We are pleased that BrightFlixx Finance (Luxembourg) S.A. is moving forward with the new definitive agreements with Cavitation Technologies and Alchemy.”
Dr. Kassem Lahham
