Cavitation Technologies Inc. said on Monday it had agreed to be acquired by an unnamed buyer for $35 million in cash.
The specialty materials company, which develops advanced oxidation and cavitation-based technologies, disclosed the deal in a filing with the U.S. Securities and Exchange Commission. The transaction is structured as a full cash acquisition, with no stock component or contingent payments.
Cavitation Technologies said its board of directors unanimously approved the agreement. The deal values the company at approximately $35 million based on the purchase price, implying a premium to recent trading levels. The company’s shares have traded in a narrow range in recent months, reflecting limited liquidity.
Under the terms of the agreement, Cavitation Technologies’ shareholders will vote on the deal at a special meeting scheduled for next month. The company did not disclose the identity of the acquirer, nor did it provide details on financing or strategic rationale beyond the filing.
The acquisition is subject to customary closing conditions, including regulatory approvals and no material adverse change in Cavitation Technologies’ business. The company said it expects the transaction to close by the end of the third quarter, pending shareholder and regulatory clearance.
Cavitation Technologies did not respond to requests for comment beyond the SEC filing.
