Newater Technology, Inc. Entering Into A Merger Agreement

YANTAI, China, Sept. 29, 2020 /PRNewswire/ — Newater Technology, Inc. (NASDAQ: NEWA) (“NEWA“, or the “Company“), a developer, service provider and manufacturer of membrane filtration products and related hardware and engineered systems that are used in the treatment, recycling and discharge of wastewater, today announced that it has entered into a definitive Agreement and Plan of Merger (the “Merger Agreement“) with Crouching Tiger Holding Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands (“Parent“), and Green Forest Holding Limited, a company with limited liability incorporated under the laws of the British Virgin Islands and a wholly-owned subsidiary of Parent (“Merger Sub“), pursuant to which Parent will acquire the Company for US$3.65 per common share of the Company.

Subject to the terms and conditions of the Merger Agreement, at the effective time of the

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