# Newater Technology receives going-private proposal at $3.10 per share

Newater Technology, Inc. has received a preliminary non-binding proposal from its Chairman and CEO Yuebiao Li and CFO Zhuo Zhang to acquire all outstanding shares not owned by them for $3.10 per share in cash, taking the company private.

- Type: Acquisition
- Announced: 2020-05-12
- Where: Yantai, China
- Status: rumored
- Products: membrane filtration products, DTRO systems, DTNF systems, wastewater treatment equipment
- Sectors: [Water Treatment Equipment](https://endata.com/sectors/water-treatment-equipment.md)

## Companies

- [Newater Technology](https://endata.com/companies/30711.md) (target)
- [Yuebiao Li](https://endata.com/companies/47181.md) (acquirer)
- [Zhuo Zhang](https://endata.com/companies/47182.md) (acquirer)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/newater-technology-inc-announces-receipt-of-preliminary-non-binding-going-private-proposal-at-3-10-per-common-share-301057590.html), 2020-05-12: "Newater Technology, Inc. today announced that its Board of Directors has received a preliminary non-binding proposal letter dated May 12, 2020 from its Chairman and Chief Executive Officer, Mr. Yuebiao Li, and its Chief Financial Officer, Ms. Zhuo Zhang, to acquire all of the outstanding shares of t"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.