| EXHIBIT (a)(1)(C) | ABI Offer to Purchase |
EXHIBIT (a)(1)(C)
Published on October 20, 2026
ABI Offer to Purchase (for Cash)
All of the Outstanding Shares of Common Stock of
Alchemy Beverages Inc.
At a Net Aggregate Price of $7,000,000 less Outstanding Liabilities,
Divided by the Number of Common Shares Outstanding at the Close of the Record Date
By: BrightFlixx Finance (Luxembourg) S.A.
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The ABI Offer and withdrawal rights expire at 11:59 p.m., Pacific Time or Pacific Daylight Time, as applicable, on January 26, 2027, except that, following a determination and announcement of the Final Offer Price (per share) following the Record Date of December 24, 2026, the Offer and withdrawal rights will be extended as necessary to give shareholders at least 30 business days to evaluate the Final Offer Price and decide whether to tender their shares pursuant to the ABI Offer |
BrightFlixx Finance (Luxembourg) S.A., a Luxembourg public limited company (“Purchaser”, “BrightFlixx”, “we”, “us” or “our”) hereby seeks to acquire all of the outstanding shares of common stock (the “ABI Shares” or “Shares”) of Alchemy Beverages Inc., a privately held Delaware corporation (“Alchemy” or “ABI”), the subject company, at a price per Share (the “Final Offer Price”) that is equal to (a) a net aggregate price of $7,000,000, reduced by the outstanding liabilities of Alchemy as of the close of the Record Date, divided by (b) the total number of ABI Shares outstanding at the close of the Record Date. The Final Offer Price will be paid in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in this ABI Offer to Purchase and in the related ABI Letter of Transmittal, respectively, as each may be amended or supplemented from time to time (which together constitute the “ABI Offer” or “Offer”). The ABI Offer is being made pursuant to the terms of a Tender Offer Agreement dated October 9, 2026, between Purchaser and Alchemy (the “ABI Agreement”).
The Final Offer Price will be determined based on the outstanding liabilities of Alchemy and the total number of ABI Shares outstanding at the close of the Record Date. The Record Date (set at forty-five (45) business days after the commencement of the Offer) is December 24, 2026.
The ABI Offer and all withdrawal rights will remain open and expire at 11:59 p.m., Pacific Time or Pacific Daylight Time, as applicable, on January 26, 2027 (a date that is sixty-five (65) business days after the commencement of the ABI Offer). However, once the Final Offer Price is determined and announced following the Record Date, the ABI Offer and all withdrawal rights will be extended in order to give shareholders of Alchemy at least thirty (30) business days to evaluate the Final Offer Price and decide whether to tender their ABI Shares pursuant to the ABI Offer.
This ABI Offer to Purchase is contingent upon various conditions to the ABI Offer (referred to as the “Offer Conditions”) that must be satisfied or waived upon the final (extended) expiration of the ABI Offer and withdrawal rights. For a list of the Offer Conditions, please refer to the “Summary of the Tender Offer” and “Section 6. Conditions of the ABI Offer” set forth below.
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Purchaser expressly reserves the right, in its sole discretion, at any time and from time to time, (a) to extend the period of time in which the ABI Offer is open (the “Expiration Time”) and thereby delay acceptance for payment of, and the payment for, any of the ABI Shares tendered pursuant to the ABI Offer, (b) to amend the ABI Offer in any respect prior to the final Expiration Time (subject to certain limitations), and (c) to terminate and withdraw the ABI Offer, and not accept ABI Shares for payment, upon the failure of any of the Offer Conditions (unless waived by Purchaser) or upon any termination of the ABI Agreement prior to the final Expiration Time. Notice of any extension to the Expiration Time or any amendment, supplement or termination to or of the ABI Offer will be promptly disseminated to shareholders in a manner reasonably designed to inform shareholders of such change in compliance with Rule 14d-4(c) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In the case of an extension to the Expiration Time for the ABI Offer, such extension will be followed by a news release or public announcement that will be issued no later than 9:00 a.m., Eastern Time or Eastern Daylight Time, as applicable, on the next business day after the scheduled Expiration Time in accordance with Rule 14e-1(d) under the Exchange Act.
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The ABI Shares are not registered under the U.S. securities laws and are not listed for trading on any national exchange or other public over-the-counter marketing platform. All of the ABI Shares are privately held. Shareholders are urged to review this ABI Offer to Purchase carefully and to review the Final Offer Price determined and announced following the Record Date before deciding whether to tender their ABI Shares.
Neither Purchaser, the Information Agent or the Depositary (identified below), or any of our or their respective affiliates, makes any recommendation to you as to whether you should tender or refrain from tendering your ABI Shares. You must make your own decision whether to tender your ABI Shares and, if so, how many Shares to tender. In so doing, you should read carefully all of the information in this ABI Offer to Purchase and in the other ABI Offer materials, including our plans for Alchemy if we are successful under the ABI Offer. You are urged to discuss your decisions with your tax advisor, financial advisor and/or broker.
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of this transaction or passed upon the merits or fairness of such transaction or passed upon the adequacy or accuracy of the information contained in this ABI Offer to Purchase. Any representation to the contrary is a criminal offense.
If you have questions or need assistance, or if you require additional copies of this ABI Offer to Purchase, the ABI Letter of Transmittal or other related materials, you should contact the Information Agent and Depositary at the address and telephone number set forth below (which are also listed in Section 3 and on the back cover (or last page) of this ABI Offer to Purchase).
The Information Agent and the Depositary for the ABI Offer is:
Dynamic Stock Transfer, Inc.
3347 Cerritos Avenue
Los Alamitos, CA 90720 USA
Telephone: (213) 667-0197
Email: cs@dynamicstocktransfer.com
The date of this ABI Offer to Purchase - and the commencement date of the ABI Offer - is October 20, 2026.
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Questions and requests for assistance may be directed to Dynamic Stock Transfer, Inc., the Information Agent and Depositary for the ABI Offer, at the telephone number and address set forth above (and in Section 3 and on the back cover (or last page) of this ABI Offer to Purchase). You may request additional copies of the ABI Offer materials from the Information Agent at its telephone number and address. Shareholders also may contact their broker, dealer, commercial bank, trust company or other nominee for assistance concerning the ABI Offer.
If you want to tender all or some of your ABI Shares, you must follow the procedures set forth in Section 3 of this ABI Offer to Purchase. To tender ABI Shares properly, other than ABI Shares registered in the name of a broker, dealer, commercial bank, trust company or other nominee, you must properly complete and duly execute the ABI Letter of Transmittal, or an agent’s message, and any other documents required by the Letter of Transmittal, and complete delivery to the Depositary.
Holders of beneficial interests in ABI Shares should be aware that their broker, dealer, commercial bank, trust company, or other nominee may establish its own earlier deadline for participation in the ABI Offer. Accordingly, beneficial owners wishing to participate in the ABI Offer should contact their broker, dealer, commercial bank, trust company or other nominee as soon as possible in order to determine the times by which such owner must take action in order to participate in the ABI Offer.
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This ABI Offer to Purchase does not constitute an offer to purchase shares in any jurisdiction in which, or from any person or entity from which, it is unlawful to make the ABI Offer under applicable securities or blue sky laws. Subject to applicable law, delivery of this ABI Offer to Purchase shall not under any circumstances create any implication that the information contained in or incorporated by reference in this ABI Offer to Purchase is correct as of any time after the date of this ABI Offer to Purchase or that there has been no change in the information included or incorporated by reference herein since the date hereof.
We have not authorized any person to make any recommendation on our behalf as to whether you should tender or refrain from tendering your ABI Shares pursuant to the ABI Offer. We have not authorized any person or entity to give any information or to make any representations in connection with the ABI Offer other than those contained or incorporated by reference in this document or in the related ABI Letter of Transmittal. If anyone makes any recommendation or representation to you or gives you any information, you must not rely on that recommendation, representation or information as having been authorized by us, the Information Agent, the Depositary or any of our or their respective affiliates.
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TABLE OF CONTENTS
SUMMARY OF THE TENDER OFFER
CAUTIONARY STATEMENT AS TO FORWARD LOOKING STATEMENTS
INTRODUCTION
THE ALCHEMY TENDER OFFER
Section 1. Terms of the ABI Offer
Section 2. Purpose of the ABI Offer; Certain Effects of the Offer
Section 3. Procedures for Tendering ABI Shares
Section 4. Withdrawal Rights
Section 5. Acceptance for Payment and Payment for Shares
Section 6. Conditions of the ABI Offer
Section 7. Price Range of Shares; Dividends
Section 8. Source and Amount of Funds
Section 9. Certain Information Concerning Alchemy
Section 10. Certain Information Concerning Purchaser
Section 11. Interests of Directors and Officers; Transactions and Arrangements
Section 12. Legal Matters; Regulatory Approvals
Section 13. Material U.S. Federal Income Tax Consequences
Section 14. Extension of the Offer; Amendment; Termination
Section 15. Fees and Expenses; Information Agent and Depositary
Section 16. Additional Information-Fairness Opinion
Section 17. Miscellaneous
Schedule I
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SUMMARY OF THE TENDER OFFER
We are providing this summary of the ABI Offer for your convenience. This summary provides an overview of certain material information in this ABI Offer to Purchase, but it must be emphasized that this summary does not describe all of the details of the ABI Offer to the same extent described elsewhere in this ABI Offer to Purchase. We urge you to read carefully the entire ABI Offer to Purchase and the other Offer materials because they contain more details of the ABI Offer. We have included references to the Sections of this ABI Offer to Purchase that provide a more complete presentation of the ABI Offer.
What is the “ABI Offer”?
BrightFlixx Finance (Luxembourg) S.A., a Luxembourg public limited company (“Purchaser”), is offering to purchase all of the outstanding shares of common stock (the “ABI Shares” or “Shares”) of Alchemy Beverages Inc., a privately held Delaware corporation (“Alchemy”), for a cash purchase price determined by a contractually specified formula, upon the terms and subject to the conditions set forth in this ABI Offer to Purchase and the related ABI Letter of Transmittal.
See Section 1. Terms of the ABI Offer.
Who is offering to buy my ABI Shares?
Purchaser is BrightFlixx Finance (Luxembourg) S.A., a private limited liability company organized under the laws of the Grandy Duchy of Luxembourg. Purchaser is a strategic securitization company under the Luxembourg Securitization Law (Law of 22 March 2004, as amended by Law of 9 February 2022), focused primarily on securities and debt acquisitions and investment portfolio management.
See Section 10. Certain Information Concerning Purchaser.
How much are you offering to pay for my Alchemy Shares and what is the form of payment?
We are offering to pay a final per-share price in cash, without interest and less any required withholding taxes. The Final Offer Price per share will be determined on the Record Date and will be calculated as follows: (a) a net aggregate price of $7,000,000 less the outstanding liabilities of Alchemy existing at the close of the Record Date, divided by (b) the total number of ABI Shares outstanding at the close of the Record Date. Under this ABI Offer to Purchase, the Record Date is December 24, 2026. The Final Offer Price may be expressed using the following formula:
Final Offer Price = Net Aggregate Price ($7,000,000 - Outstanding Liabilities)
Total Outstanding ABI Shares
Based on recent data reported by Alchemy to us - which show total liabilities of $88,441.81 and 18,798,473 ABI Shares outstanding as of October 16, 2026 - an initial estimated offer price would be approximately $0.368 per share. The actual Final Offer Price you receive may be higher or lower depending on the (1) amount of outstanding liabilities of Alchemy existing at the close of the Record Date, and (2) the total number of ABI Shares outstanding at the close of the Record Date. The Final Offer Price could also be subject to upward adjustment based on a Fairness Opinion that will be secured by Alchemy.
Since ABI Shares are privately held and are not traded in a public market, the ABI Agreement provides that Alchemy will arrange for an independent third party having expertise in the valuation of operating companies to provide a written fairness opinion (“Fairness Opinion”) as to the market value of Alchemy and its outstanding capital stock. Under the ABI Agreement:
| · | the Fairness Opinion will be considered by Alchemy and Purchaser in determining whether the aggregate price of $7,000,000 for the ABI Shares under the ABI Offer is fair and reflects the current market value of Alchemy; |
| · | the Fairness Opinion may not be used by Purchaser to reduce the Final Offer Price for ABI Shares tendered to the ABI Offer; and |
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| · | if the Fairness Opinion provides a valuation of Alchemy that is greater than $7,000,000, this will constitute a “change circumstance” that may result in Alchemy’s board of directors issuing an adverse recommendation to the ABI Offer unless, during a five-day negotiations period, Alchemy and Purchase reach an agreement pursuant to which Purchaser increases the aggregate price and the Final Offer Price to a level that will enable Alchemy’s board of directors to issue a positive recommendation for the ABI Offer. If an acceptable adjustment to the aggregate price and the Final Offer Price is not achieved, Alchemy’s board may issue an adverse recommendation to the ABI Offer, in which case either Alchemy or Purchaser may terminate the ABI Agreement (which, as a result of the cross-conditions between the CVAT Offer and the ABI Offer requiring both to be consummated successfully, would cause both offers to be terminated or withdrawn). |
See Section 1. Terms of the ABI Offer; Section 5. Acceptance and Payment and Payment for Shares; Section 6. Conditions of the ABI Offer; Section 14. Extension of the Offer; Amendment; Termination; and Section 16. Additional Information - Fairness Opinion.
What is the Record Date for the determination of the Final Offer Price?
The Record Date is December 24, 2026 (the date that is 45 business days after the commencement date of the ABI Offer). At the close of the Record Date, the total number of outstanding ABI Shares and Alchemy’s outstanding liabilities will be confirmed in Alchemy’s financial and accounting records and will be used in calculating the Final Offer Price.
See Section 1. Terms of the ABI Offer.
How long do I have to decide whether to tender my ABI Shares?
The ABI Offer commences on October 20, 2026, the date of this ABI Offer to Purchase. The baseline offer period for the ABI Offer is 65 business days from the offer commencement date, which means that the initial period of the ABI Offer will expire at 11:59 p.m., Pacific Time or Pacific Daylight Time, as applicable, on January 26, 2027 (the “Expiration Time”). However, to ensure that you have adequate time to evaluate the ABI Offer once the Final Offer Price is determined and publicly announced following the Record Date, we will extend the Expiration Time as may be necessary to give you at least 30 business days from the date the Final Offer Price is announced to decide whether to tender your ABI Shares.
See Section 1. Terms of the ABI Offer.
What are the most important conditions to the ABI Offer?
Our obligation to accept and pay for your ABI Shares is subject to several key conditions, including:
| · | 90% Minimum Tender: Shareholders must validly tender a sufficient number of ABI Shares that will enable us to acquire at least 90% of the ABI Shares outstanding. | |
| · | Concurrent CVAT Offer: The Offer Conditions in our concurrent tender offer for Cavitation Technologies, Inc. must be satisfied or waived, enabling us to successfully acquire CVAT Shares pursuant to the CVAT Offer (CVAT currently owns approximately 13.3% of ABI Shares). | |
| · | Representations & Warranties: Alchemy must have complied with its representations, warranties and covenants under the Alchemy Agreement except for matters that would not have a material adverse effect or change in Alchemy’s financial condition or business operations. | |
| · | No Material Adverse Effect: No material adverse effect or change in Alchemy’s financial condition or business operations can occur during the period of the ABI Offer. | |
| · | Regulatory Clearance: The transaction must be reviewed and cleared by the Committee on Foreign Investment in the United States (CFIUS), and no government entity can take action to block the transaction. |
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See Section 6. Conditions of the ABI Offer.
How do I tender my ABI Shares?
To tender your ABI Shares, you must deliver your choice of document and payment materials to our designated depositary, Dynamic Stock Transfer, Inc. If you want to tender all or some of your ABI Shares, you must do one of the following before the Expiration Time, as may be extended:
| · | For Shares Held as Physical Certificates: You must deliver the physical stock certificates representing the tendered ABI Shares, together with a properly completed and duly executed ABI Letter of Transmittal (including any required signature guarantees) and all other documents required by the ABI Letter of Transmittal, to the Depositary at the delivery address set forth both in Section 3 and on back cover (or last page) of this ABI Offer to Purchase; |
| · | For Shares Held via Book-Entry Position: Your ABI Shares must be electronically transferred into the Depositary’s account at the Book-Entry Facility (as defined below) in accordance with the book-entry transfer procedures set forth in Section 3. Furthermore, a Book-Entry Confirmation (including an Agent’s Message or a properly completed and signed Letter of Transmittal) must be timely received by the Depositary; or |
| · | For Shares Held in the Name of a Broker, Dealer, Bank or Other Nominee: You should contact your broker, dealer, commercial bank, trust company or other nominee and have it or them tender your ABI Shares for you. |
See Section 3. Procedures for Tendering ABI Shares.
Can I withdraw my previously tendered ABI Shares?
Yes. You can withdraw your previously tendered ABI Shares at any time prior to the final Expiration Time. Once the Offer expires and we accept the ABI Shares for payment, your withdrawal rights will cease.
See Section 4. Withdrawal Rights.
If I accept the ABI Offer, when and how will I get paid?
If all of the Offer Conditions are satisfied or waived and we accept all of the validly tendered ABI Shares for payment, we will pay for your ABI Shares promptly following our acceptance of the ABI Shares. We will deposit the net aggregate cash funds to complete the transaction with Dynamic Stock Transfer, Inc., the Depositary, which will act as the paying agent to distribute individual cash payments to tendering shareholders.
See Section 5. Acceptance for Payment and Payment for Shares; Section 15. Fees and Expenses; Information Agent and Depositary.
Can the ABI Offer be extended, amended or terminated, and under what circumstances?
We can extend or amend the ABI Offer in our sole discretion, subject to applicable laws, although we cannot modify the price formula or the Final Offer Price once it is determined following the Record Date. If we extend the Offer, we will delay the acceptance of any ABI Shares that have been tendered. We can terminate and withdraw the ABI Offer under certain circumstances.
We will not have the right to terminate or withdraw the ABI Offer unless the ABI Agreement is terminated pursuant to specific grounds set forth in the ABI Agreement. For more information on the grounds for terminating the ABI Agreement, see Section 14 of this ABI Offer to Purchase.
See Section 14. Extension of the Offer; Amendment; Termination.
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How will I be notified if we extend the ABI Offer or amend the terms of the ABI Offer?
We will issue a press release no later than 9:00 a.m., New York City time, on the business day after the previously scheduled Expiration Date if we decide to extend the ABI Offer. We will announce any amendment to the ABI Offer by making a public announcement of the amendment. In the event that the terms of the ABI Offer are amended, we will file with the SEC an amendment to our Tender Offer Statement on Schedule TO-T relating to the ABI Offer, describing the amendment and disseminating the amended ABI Offer and additional Offer materials in accordance with applicable law.
See Section 14. Extension of the Offer; Amendment; Termination.
Has Alchemy or its board of directors adopted a position on the ABI Offer?
Alchemy has not yet announced a recommendation or other position on the ABI Offer. We anticipate that Alchemy’s board of directors will announce a position and file a response to the ABI Offer on Schedule 14D-9 under the Exchange Act within ten (10) business days after the commencement date of the ABI Offer.
What is a recent market price for the ABI Shares?
ABI Shares are privately held. ABI shares are not listed on a national stock exchange or the OTC Market and are not publicly traded. Consequently, no prevailing market price can be obtained or discerned from publicly available trading data for ABI Shares. That is the primary reason why Alchemy will be obtaining a Fairness Opinion.
See Section 9. Certain Information Concerning Alchemy; Section 16. Additional Information-Fairness Opinion.
Will I have to pay brokerage fees and commissions if I tender my ABI Shares?
If you are a holder of record of your ABI Shares and you tender your shares directly to the Depositary, you will not incur any brokerage fees or commissions. If you hold your ABI Shares through a broker, dealer, commercial bank, trust company or other nominee and such nominee tenders shares on your behalf, such nominee may charge you a fee for doing so. We urge you to consult your broker or other nominee to determine whether any charges will apply.
See Section 3. Procedures for Tendering ABI Shares.
What are the U.S. federal income tax consequences if I tender my shares?
The receipt of cash for your tendered ABI Shares generally will be treated a capital gain or loss for U.S. federal income tax purposes. If you are a U.S. tendering shareholder, you generally will be subject to U.S. federal income taxation upon the receipt of cash in exchange for the ABI Shares that you tender.
If you are a non-U.S. shareholder, if the receipt of cash by you received in the sale of your ABI Shares is not effectively connected with your conduct of a trade or business in the United States, you generally will not be subject to U.S. federal income taxation on the receipt of such cash, subject to certain exceptions.
See Section 13. Material U.S. Federal Income Tax Consequences.
We recommend that you consult your own tax advisor regarding the particular tax consequences to you of tendering ABI Shares for cash pursuant to the ABI Offer, including the applicability and effect of any U.S. state or local tax laws or other non-U.S. tax laws.
Will I have to pay stock transfer tax if I tender my ABI Shares?
Except as otherwise provided in this ABI Offer to Purchase and in the ABI Letter of Transmittal, if you instruct the Depositary in the ABI Letter of Transmittal to make the payment for the tendered ABI Shares to the registered holder, you will generally not be required to pay any stock transfer taxes on our purchase of the ABI Shares.
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To whom can I speak if I have questions:
The Information Agent and Depositary can help answer your questions. The Information Agent and Depositary for the ABI Offer is Dynamic Stock Transfer, Inc. Please call (213) 667-0197, Monday through Friday, from 8:00 a.m. to 4:00 p.m., Los Angeles, CA time (Pacific).
Dynamic Stock Transfer, Inc.
3347 Cerritos Avenue
Los Alamitos, CA 90720 USA
Telephone: (213) 667-0197
Email: cs@dynamicstocktransfer.com
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CAUTIONARY STATEMENT AS TO FORWARD-LOOKING STATEMENTS
This ABI Offer to Purchase and the documents incorporated herein by reference contain certain forward-looking statements. These statements generally are identified by the use of words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “should,” or similar expressions. Forward-looking statements speak only as of the date they are made and, as a result. are subject to risks and uncertainties. Many factors may potentially cause actual future events to differ materially from the forward-looking statements in this ABI Offer to Purchase or the other Offer documents delivered to you or filed by us. You should carefully consider these uncertainties, and other uncertainties that may exist, described in this ABI Offer to Purchase and the other Offer documents that have been or will be delivered to you or filed by us with the SEC. You are cautioned not to place undue reliance on any such forward-looking statements. We do not give any assurance that we will achieve our expectations. The inclusion of any statement in this ABI Offer to Purchase or any other Offer documents delivered to you or filed by us does not constitute an admission by us or any other person that the events or circumstances described in such statement are material.
We urge you to read completely this ABI Offer to Purchase and the documents that we reference in this ABI Offer to Purchase and have filed as exhibits to the Tender Offer Statement on Schedule TO-T filed with the SEC, which includes this ABI Offer to Purchase, and with the understanding that actual future results may be materially different from what we expect or anticipate. We qualify each of our forward-looking statements by these cautionary statements.
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INTRODUCTION
To the Holders of shares of common stock of Alchemy:
We invite the shareholders of Alchemy Beverages Inc. (“Alchemy” or “ABI”) to tender their shares of the common stock of Alchemy. Upon the terms and subject to the conditions of this ABI Offer to Purchase and the related ABI Letter of Transmittal, BrightFlixx Finance (Luxembourg) S.A., a Luxembourg public limited company (“Purchaser”), is offering to purchase all of the outstanding shares of common stock (the “ABI Shares” or “Shares”) of Alchemy at a price per share (the “Final Offer Price”) that will be calculated as follows: (a) a net aggregate price of $7,000,000, reduced by the outstanding liabilities of Alchemy at the close of the Record Date, divided by (b) the total number of ABI Shares outstanding at the close of the Record Date. The Final Offer Price (per share) will be paid in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in this ABI Offer to Purchase and the related ABI Letter of Transmittal, as each may be amended or supplemented from time to time (which together constitute the “ABI Offer” or “Offer”).
The Final Offer Price will be determined based on the outstanding and liabilities of Alchemy and the total number of ABI Shares outstanding at the close of the Record Date. The Record Date (set at forty-five (45) business days after the commencement of the Offer) is December 24, 2026.
The ABI Offer and all withdrawal rights will initially remain open and expire at 11:59 p.m., Pacific Time or Pacific Daylight Time, as applicable, on January 26, 2027 (a date that is sixty-five (65) business days after the commencement of the ABI Offer) (the “Expiration Time”). However, once the Final Offer Price is determined and announced following the Record Date, the ABI Offer and withdrawal rights will be extended in order to give shareholders at least thirty (30) business days to evaluate the Final Offer Price and decide whether to tender their ABI Shares pursuant to the ABI Offer.
If the conditions to the ABI Offer have been satisfied or waived, we will purchase all of the ABI Shares that have been validly tendered prior to the final Expiration Time at the Final Offer Price (per Share) determined following the close of the Record Date, less any applicable withholding taxes and without interest. Tendering shareholders that hold ABI Shares registered in their own name and that tender their ABI Shares directly to the Depositary will not be obligated to pay brokerage commissions, solicitation fees or, except as otherwise provided in the ABI Letter of Transmittal, stock transfer taxes on our purchase of ABI Shares. Shareholders holding ABI Shares through brokers, dealers, commercial banks, trust companies or other nominees are urged to consult such nominees to determine whether transaction costs apply.
Any tendering shareholder or other payee that fails to complete, sign and deliver the Internal Revenue Service (“IRS”) Form W-9 included in or with the ABI Letter of Transmittal (or such other IRS form as may be applicable) may be subject to U.S. federal backup withholding on the gross proceeds paid to shareholder or payee pursuant to the ABI Offer, unless such shareholder or payee establishes that he/she is within the class of persons that is exempt from backup withholding.
The ABI Shares are privately held and are not listed on a national stock exchange or the OTC Market and are not traded in any public market. Shareholders are urged to review this ABI Offer to Purchase and other Offer materials, including the Final Offer Price once it is determined and announced following the Record Date, before deciding whether to tender their ABI Shares to the ABI Offer.
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THE TENDER OFFER
Section 1. Terms of the ABI Offer
Upon the terms and subject to the conditions of the ABI Offer (including, if the Offer is extended or amended, the terms and conditions of any such extension or amendment), Purchaser will accept for payment and pay for all ABI Shares validly tendered prior to the Expiration Time, as extended, and not properly withdrawn as provided in Section 4.
ABI Offer Baseline and Offer Period
The ABI Offer will commence on October 20, 2026. The baseline period for the ABI Offer will remain open for an initial period of sixty-five (65) business days from the commencement date of the ABI Offer, or until 11:59 p.m., Pacific Time or Pacific Daylight Time, as applicable, on January 26, 2027 (the “Expiration Time”). The Expiration Time may be extended from time to time by Purchaser or as may be requested by Alchemy. Once a Final Offer Price is determined following the Record Date and publicly announced, Purchaser will extend the Expiration Time in order to give shareholders at least thirty (30) business days to review the ABI Offer, as amended to include the Final Offer Price, before deciding whether to tender their ABI Shares.
Pricing Mechanism and Record Date
The Final Offer Price (per Share) is not fixed at the date of commencement of the ABI Offer. Tendering shareholders will be paid a Final Offer Price (per share) based on (a) a net aggregate price of $7,000,000, reduced by the outstanding liabilities of Alchemy at the close of the Record Date, divided by (b) the total number of ABI Shares outstanding at the close of the Record Date. The formula for determining the Final Offer Price at the close of the Record Date may be expressed as follows:
Final Offer Price = Net Aggregate Price ($7,000,000 - Outstanding Liabilities)
Total Outstanding ABI Shares
The Record Date for determining the Final Offer Price is December 24, 2026.
| · | On the business day immediately following the Record Date, Purchaser will calculate the Final Offer Price based on information provided and confirmed by Alchemy; and | |
| · | Purchaser will promptly thereafter issue a public announcement and file an amendment to the ABI Offer disclosing the Final Offer Price and the mechanics of its determination. At that time, the period of the ABI Offer (Expiration Time) will be extended as necessary in order to give shareholders at least thirty (30) business days to review the ABI Offer, as amended, and the Final Offer Price before making a final decision whether to tender their ABI Shares. |
Extensions, Amendments, and Waiver of Conditions
Purchaser expressly reserves the right, in its sole discretion, at any time and from time to time, to (a) extend the period of time in which the ABI Offer is open (i.e. extend the Expiration Time), (b) to increase the Final Offer Price, (c) waive any Offer Condition set forth in Section 6 (other than regulatory approvals that are required by law and cannot be waived). Purchase may not, however, (1) change or alter the basis (or formula) for determining the Final Offer Price, (2) change the cash form of consideration for tendered ABI Shares that are accepted for purchase, (3) reduce below 100% the maximum number of ABI Shares that Purchaser proposes to acquire under the ABI Offer, (4) impose conditions to the ABI Offer other than the Offer Conditions set forth in Section 6, (5) amend the Offer Conditions, or (6) change the Expiration Time other than to grant extensions.
Any extension, delay, amendment, termination or waiver will be followed as promptly as practicable by public announcement thereof, such announcement in the case of an extension to the Expiration Time to be made no later than 9:00 a.m., New York City time, on the next business day after the previously scheduled Expiration Time, in accordance with Rule 14e-1(d) under the Exchange Act.
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Acceptance for Payment
If all of the Offer Conditions set forth in Section 6 are satisfied or waived at or prior to the final Expiration Time, Purchaser will accept for payment and promptly pay for all ABI Shares validly tendered and not properly withdrawn. Under no circumstances will interest be paid on the purchase price for the ABI Shares, regardless of any extension of the ABI Offer or any delay in making payment.
Section 2. Purpose of the ABI Offer; Certain Effects of the Offer
Purpose of the ABI Offer
We are making this ABI Offer because we believe Alchemy and the intellectual property it has licensed from Cavitation Technologies, Inc. represent an attractive investment. The structure of the ABI Offer will enable Purchaser to acquire up to all of the outstanding ABI Shares for a single price per Share (the Final Offer Price) on a private basis and concurrently with the tender offer we are making for the outstanding shares of common stock of Cavitation Technologies, Inc.
Neither Purchaser or the Information Agent and Depositary, nor any of their respective affiliates, makes any recommendation as to whether you should tender or not tender your ABI Shares. You must make your own decision as to whether to tender your ABI Shares and, if so, how many shares to tender. We recommend that you consult your own financial and tax advisors, and carefully read and evaluate the information in this ABI Offer to Purchase and in the related ABI Letter of Transmittal before taking any action with respect to the ABI Offer.
Certain Effects of the ABI Offer
As of October 16, 2026, there were 18,798,473 ABI Shares outstanding. Assuming that the Offer Conditions set forth in Section 6 are satisfied or waived and at least 90% of the ABI Shares are acquired by Purchaser, Purchaser will have substantial control of the voting power of Alchemy. This will have the following effects or result in the following:
(a) New Directors and Officers. Purchaser will act under Alchemy’s governance documents to elect a new board of directors for Alchemy, which in turn will likely appoint new officers during or at the end of a transition period for Alchemy;
(b) Potential Merger with CVAT. Purchase will likely explore whether Alchemy should be merged into or with Cavitation Technology, Inc. or remain as a separate operating entity.
It is likely that, if the ABI Shares are acquired by Purchaser pursuant to the ABI Offer, no public trading market will exist for the ABI Shares and no liquidity in the ABI Shares will exist since a substantial portion of the ABI Shares will be privately held by Purchaser.
Section 3. Procedures for Tendering ABI Shares
To validly tender ABI Shares, shareholders must tender their ABI Shares to the Depositary in accordance with the procedures set forth in this Section 3. The name, address and telephone number of the Depositary are as follows:
Dynamic Stock Transfer, Inc.
3347 Cerritos Avenue
Los Alamitos, CA 90720 USA
Telephone: (213) 667-0197
Email: cs@dynamicstocktransfer.com
Valid Tender of ABI Shares
To validly tender ABI Shares pursuant to the ABI Offer, a shareholder must ensure that a proper tender is executed under one of the procedures outlined below prior to the final Expiration Time:
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| · | For ABI Shares Held as Physical Certificates: The shareholder must deliver the physical stock certificates representing the tendered ABI Shares, together with a properly completed and duly executed ABI Letter of Transmittal (including any required signature guarantees) and all other documents required by the Letter of Transmittal, to the Depositary at the delivery address set forth above; |
| · | For ABI Shares Held via Book-Entry Position: The ABI Shares must be electronically transferred into the Depositary’s account at the Book-Entry Facility (as defined below) in accordance with the book-entry transfer procedures set forth below. Furthermore, a Book-Entry Confirmation (including an Agent’s Message or a properly completed and signed Letter of Transmittal) must be timely received by the Depositary; or |
| · | For ABI Shares Held in the Name of a Broker, Dealer, Bank or Other Nominee: The shareholder should contact his/her broker, dealer, commercial bank, trust company or other nominee and have it or them tender the ABI Shares on the shareholder’s behalf. |
The method of delivery of ABI Shares, the ABI Letter of Transmittal, and all other required documents are at the election and risk of the tendering shareholder. Delivery will be deemed made only when actually received by the Depositary. We recommend that delivery be conducted by registered mail, return receipt requested, and properly insured, or by private courier, signature required upon delivery.
Any tendering shareholder or other payee who fails to properly complete, execute and deliver a Form W-9 (included with the Letter of Transmittal) or an applicable Form W-8 may be subject to U.S. federal backup withholding on the gross proceeds paid pursuant to the ABI Offer. See Section 13.
Book-Entry Transfer Mechanics
The Depositary will establish an account with respect to the ABI Shares at The Depository Trust Company (the “Book-Entry Facility”) for purposes of the ABI Offer within five business days after the date of this ABI Offer to Purchase.
Any financial institution that is a participant in the system of the Book-Entry Facility may make a book-entry delivery of ABI Shares by causing the Book-Entry Facility to transfer such Shares into the Depositary’s account in accordance with the Book-Entry Facility’s procedures. Although delivery of Shares may be effected through book-entry transfer, a properly completed and duly executed ABI Letter of Transmittal, or an Agent’s Message in lieu of a Letter of Transmittal, and any other required documents, must be received by the Depositary at its address prior to the Expiration Time. Delivery of documents to the Book-Entry Facility does not constitute delivery to the Depositary.
Signature Guarantees
Signatures on all ABI Letters of Transmittal must be guaranteed by a firm that is a member of the Medallion Signature Guarantee Program, or by any other “eligible guarantor institution,” as such term is defined in Rule 17Ad-15 under the Exchange Act (each an “Eligible Institution”), unless:
| · | The Letter of Transmittal is signed by the registered holder(s) of the ABI Shares tendered therewith, and such holder(s) has not completed either the box entitled “Special Payment Instructions” or the box entitled “Special Delivery Instructions” on the Letter of Transmittal; or |
| · | Such Shares are tendered for the account of an Eligible Institution. |
Notices of Guaranteed Delivery
If a shareholder is unable to physically deliver stock certificates or complete a book-entry transfer before the final Expiration Time, a tender of ABI Shares will be considered valid if an Eligible Institution executes and delivers a Notice of Guaranteed Delivery (ABI Shares) to the Depositary prior to the expiration of the ABI Offer. For such a tender of ABI Shares described in a Notice of Guaranteed Delivery to be considered valid, the physical stock certificates evidencing the Shares must be delivered to the Depositary within two (2) business days after delivery of the Notice of Guaranteed Delivery.
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Tendering Shareholder Representations
A tender of ABI Shares pursuant to any of the procedures described above will constitute a binding agreement between the tendering shareholder and Purchaser upon the terms and subject to the conditions of the ABI Offer. By executing a Letter of Transmittal (or causing an Agent’s Message to be delivered), the tendering shareholder represents and warrants that:
| · | The shareholder has full power and authority to tender, sell, assign, and transfer the ABI Shares tendered; |
| · | The shareholder owns the ABI Shares free and clear of all liens, charges, encumbrances, security interests, and adverse claims; and |
| · | Upon Purchaser’s acceptance of the ABI Shares for payment, Purchaser will acquire good, marketable, and unencumbered title thereto. |
Determination of Validity
All questions as to the validity, form, eligibility (including time of receipt), and acceptance for payment of any tender of ABI Shares will be determined by Purchaser in its sole discretion, which determination will be final and binding. Purchaser and the Depositary each reserves the absolute right to reject any and all tenders of ABI Shares that either of them determines not to be in proper form or the acceptance for payment of which may be unlawful.
Purchaser also reserves the absolute right to waive any defect or irregularity in the tender of any particular ABI Shares, or of any shareholder, provided that it maintains consistency between or among all shareholders unless good cause exists to do otherwise. No tender of ABI Shares will be deemed to have been validly made until all defects and irregularities have been cured or waived. None of Purchaser, the Depositary, or any other person will be under any duty to give notification of any defects or irregularities in tenders or incur any liability for failure to give any such notification.
Section 4. Withdrawal Rights
Except as otherwise provided in this Section 4, ABI Shares tendered pursuant to the ABI Offer may be withdrawn at any time prior to the final Expiration Time. Once the ABI Offer expires and Purchaser accepts the ABI Shares for payment, the tendering shareholder’s withdrawal rights will cease.
Procedure for Withdrawal
For a withdrawal of tendered ABI Shares to be effective, a written or facsimile transmission notice of withdrawal must be timely received by the Depositary at its address set forth above. Each notice of withdrawal must contain or specify the following:
| · | The name of the person that tendered the ABI Shares to be withdrawn; |
| · | The number of ABI Shares to be withdrawn; and |
| · | The name of the registered holder of such ABI Shares, if different from that of the person who tendered the ABI Shares. |
Additional Requirements for Physical Certificates and Book-Entry Positions
| · | Physical Certificates: If physical certificates representing the ABI Shares to be withdrawn have been delivered to the Depositary, the serial numbers shown on such certificates must be submitted to the Depositary prior to the physical release of the withdrawn Shares. In addition, the signature(s) on the notice of withdrawal must be guaranteed by an Eligible Institution, unless such Shares were tendered for the account of an Eligible Institution. |
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| · | Book-Entry Transfers: If ABI Shares have been tendered pursuant to the procedures for book-entry transfer as set forth in Section 3, any notice of withdrawal must specify the name and number of the account at the Book-Entry Facility to be credited with the withdrawn Shares, and the notice must otherwise comply with the Book-Entry Facility’s procedures. |
Timing and Mechanics of Withdrawal
The Depositary will process valid withdrawal notices promptly upon receipt. ABI Shares properly withdrawn will no longer be considered validly tendered for purposes of satisfying the 90% minimum tender condition to the ABI Offer described in Section 6. Tendered ABI Shares that are validly withdrawn may be re-tendered at any time prior to the final Expiration Time by following one of the standard tendering procedures set forth in Section 3.
Determination of Validity
All questions as to the form and validity (including time of receipt) of any notice of withdrawal will be determined by Purchaser, in its sole discretion, which determination will be final and binding. None of Purchaser, the Depositary, or any other person will be under any duty to give notification of any defects or irregularities in any notice of withdrawal, nor shall any of them incur any liability for failure to give any such notification.
Section 5. Acceptance for Payment and Payment for Shares
Upon the terms and subject to the conditions of the ABI Offer (including, if the Offer is extended or amended, the terms and conditions of any such extension or amendment), Purchaser will accept for payment, and will pay for, all ABI Shares validly tendered prior to the final Expiration Time (and not properly withdrawn) promptly after the Expiration Time and Purchaser’s acceptance of the Shares.
Acceptance for Payment
For purposes of the ABI Offer, Purchaser will be deemed to have accepted for payment validly tendered ABI Shares if, as, and when Purchaser gives oral or written notice to the Depositary of Purchaser’s acceptance of such Shares for payment pursuant to the ABI Offer. Subject to the applicable rules of the SEC, Purchaser reserves the right to delay acceptance for payment of, or payment for, ABI Shares in order to comply in whole or in part with any applicable regulatory approvals, including the completion of the review by the Committee on Foreign Investment in the United States (“CFIUS”), or for the purpose of completing the administrative task of processing tendered ABI Shares for payment.
Payment for ABI Shares
Upon the expiration of the final Expiration Time, if all of conditions to the ABI Offer have been satisfied or waived by Purchaser, Purchaser will purchase all ABI Shares validly tendered to the Depositary and will pay for all such ABI Shares at the Final Offer Price in cash, less any required tax withholdings and without interest. All payments for tendered ABI Shares shall be disbursed by the Depositary to each shareholder or payee that has validly tendered his/her ABI Shares.
Prior to the final Expiration Time, Purchaser shall transfer, or shall cause to be transferred, to the Depositary an amount equal to $7,000,000 to fund the aggregate amount required to (a) pay the Final Offer Price, determined as of the Record Date, for all validly tendered pursuant to the ABI Offer, and (b) pay or reduce the outstanding liabilities of Alchemy existing as of the close of the Record Date, which may include payment of a portion of the transaction fees and expenses incurred by Alchemy in connection with the ABI Offer. We anticipate that, following Purchaser’s determination that all of the Offer Conditions set forth in Section 6 have been satisfied or waived and Purchaser has accepted for payment all ABI Shares validly tendered pursuant to the ABI Offer, the Depositary may require up to ten (10) business days to complete the disbursement of payments to shareholders that have tendered their ABI Shares pursuant to the ABI Offer.
ABI Shares Not Accepted for Payment
If any ABI Shares tendered are not accepted for payment pursuant to the terms and conditions of the ABI Offer for any reason, or if certificates are submitted for more ABI Shares than are tendered, the physical certificates representing such unpurchased or untendered ABI Shares will be returned. In the case of book-entry transfers, such Shares will be credited back to the appropriate account maintained at the Book-Entry Facility. These returns will be executed promptly following the expiration, termination, or withdrawal of the ABI Offer, without expense to the shareholder.
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Section 6. Conditions of the ABI Offer
Notwithstanding any other provisions of the ABI Offer, and in addition to (and not in limitation of) Purchaser’s rights to extend or amend the Offer (subject to certain limitations), Purchaser will not be required to accept for payment or, subject to any applicable rules and regulations of the SEC, including Rule 14e-1(c) under the Exchange Act, to pay for any ABI Shares tendered, and may terminate or amend the ABI Offer, if any of the following conditions (collectively, the “Offer Conditions”) have not been satisfied or waived (to the extent permitted by law) at or prior to the final Expiration Time:
(a) Minimum Tender Condition. There shall have been validly tendered and not properly withdrawn prior to the Expiration Time a number of ABI Shares that, when added to any ABI Shares already owned by Cavitation Technologies Inc., represents at least 90% of the ABI Shares outstanding as of the final Expiration Time.
(b) Concurrent Cavitation Technologies, Inc. Transaction Condition. The concurrent tender offer by Purchaser to acquire all outstanding shares of common stock of Cavitation Technologies, Inc. shall have been successfully completed (or Purchaser shall have accepted tendered CVAT Shares for purchase) in accordance with its terms, or the conditions to such transaction shall have been satisfied or waived, enabling Purchaser to concurrently acquire shares of the common stock of Cavitation Technologies, Inc.
(c) Compliance with ABI Agreement. (1) The representations and warranties of Alchemy set forth in the ABI Agreement shall be true and correct as of October 9, 2026, except where any failure would not have a material adverse effect, and (2) Alchemy shall have performed or complied in all material respects with all of its obligations, covenants, and agreements under the ABI Agreement, except where any failure would not have a material adverse effect.
(d) No Material Adverse Effect. Since October 9, 2026, there shall not have occurred any change, event, circumstance, development, or effect that, individually or in the aggregate, has had, or would reasonably be expected to have, a material adverse effect on the business or financial condition of Alchemy.
(e) No Adverse Governmental Action. No government or government entity shall have taken any action, and no judgment, restraining order or injunction shall have been issued or entered, and no other legal action or requirement shall have been taken, that prevents the purchase of ABI Shares tendered pursuant to the ABI Offer.
(f) No Termination of ABI Agreement. The Alchemy Agreement shall not have been terminated in accordance with the termination provisions set forth therein (see Section 14 of this ABI Offer to Purchase);
(g) Alchemy Certificates. Alchemy shall, through one of its officers, have signed and delivered a written certificate to Purchaser confirming that the conditions set forth above in clauses (c), (d) and (e) above have been satisfied.
(h) CFIUS Review and Clearance. The ABI Offer and the related transaction shall have been reviewed by CFIUS and CFIUS shall have notified Purchaser or Alchemy that it has concluded all action under Section 721 of the Defense Production Act of 1950, as amended.
The above and foregoing Offer Conditions are for the sole benefit of Purchaser and may be waived by Purchaser, in whole or in part, at any time, and from time to time, in its sole discretion, if the condition remains unsatisfied for reasons beyond Purchaser’s control.
NOTE: The term “material adverse effect” used in this Section 6 (specifically in clauses (d) and (e) above) is defined in the ABI Agreement to mean an event, change, occurrence or circumstance that has or would be reasonably expected to have a material adverse effect on the business or financial condition of Alchemy or Purchaser, as the case may be. The definition excludes a number of categories of events and conditions, including for example (i) economic, political, industry and market conditions or changes in such conditions, (ii) acts of God, (iii) compliance with or changes in laws or legal requirements, (iv) legal proceedings, (v) failure of Alchemy to meet budgets, plans, projections or forecasts, (vi) any termination, nonrenewal or loss of technology licenses by Alchemy or any loss of customers or suppliers, (vii) the departure of directors, officer or employees of Alchemy, (viii) actions taken under the ABI Agreement by Alchemy or approved by Purchaser, and (ix) public announcements concerning the ABI Agreement or the ABI Offer.
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Section 7. Price Range of Shares; Dividends
Since the ABI Shares are privately held and are not traded in any public market, there is no publicly available trading price data available for ABI Shares.
Shareholders are urged to review this ABI Offer to Purchase, including the Fairness Opinion obtained by Alchemy and the Final Offer Price determined and announced following the Record Date, before deciding whether to tender their ABI Shares. Purchaser has been advised by Alchemy that Alchemy has not declared or paid any cash dividends on its common stock during the past two fiscal years and does not anticipate paying cash dividends in the foreseeable future.
Section 8. Source and Amount of Funds
(a) Amount of Required Funds; Estimated Costs/Expenses. Based on the price formula used for determining the Final Offer Price, the total amount of cash required to purchase all ABI Shares tendered pursuant to the ABI Offer will be $7,000,000 (plus the certain estimated expenses as set forth subsection (e) below and in Section 15).
(b) Funding Structure. Purchaser will fund this transaction entirely through its existing internal wealth management asset allocations and unencumbered cash balances. Purchaser has directly earmarked and secured these funds for the sole purpose of acquiring up to all of the outstanding ABI Shares at the Final Offer Price.
(c) No Financing Conditions. The ABI Offer is not conditioned upon any financing arrangements, credit approvals, or capital raises. Purchaser has provided Alchemy with documentary proof of cash availability sufficient to cover the aggregate price of $7 million required to consummate this transaction. These funds will be transferred to the Depositary prior to the final Expiration Time to ensure timely settlement upon acceptance of the ABI Shares tendered pursuant to the ABI Offer.
(d) Borrowed Funds. Not applicable. No part of the funds required to consummate the ABI Offer is expected to be borrowed or otherwise obtained from any external banking institution or third-party debt financing arrangement.
(e) Estimated Expenses. Purchaser estimates that it will incur fees and expenses in connection with the ABI Offer of approximately $50,000, consisting primarily of accounting fees, legal fees, government filing fees and regulatory expenses, depositary fees, and printing and mailing fees,
Section 9. Certain Information Concerning Alchemy
Alchemy is a Delaware corporation that is privately owned. The address of Alchemy’s principal executive offices is 10019 Canoga Avenue, Chatsworth, CA 91311 USA. The telephone number of Alchemy at its principal executive offices is (818) 718-0905.
The ABI Shares are not listed on any national stock exchange or the OTC Market and are not traded in any public market. The ABI shares have not been registered under either the (U.S.) Securities Act of 1933 or under the Section 12 reporting requirements under the Exchange Act.
Under the terms of worldwide, exclusive, royalty-bearing technology, processing and equipment licenses granted to Alchemy by Cavitation Technologies, Inc., Alchemy has the right to use technologies and proprietary nano reactors and systems designed by Cavitation Technologies in developing, manufacturing, commercializing and marketing alcohol beverages and certain proprietary equipment and consumer smart appliances that may be used to enhance and process alcoholic beverages. Alchemy also owns the rights and interests in the trademark “Barmuze” that has been registered with the U.S. Patent and Trademark Office. The Barmuze® trademark is used by Alchemy to describe the consumer smart appliances and associated technologies that are being commercially developed by Alchemy under the licenses granted by Cavitation Technologies, Inc.
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Section 10. Certain Information Concerning Purchaser
In General
The filing person is BrightFlixx Finance (Luxembourg) S.A., a public limited company (société
anonyme) organized under the laws of Luxembourg (referred to herein as “Purchaser”) and registered with the Luxembourg Trade
and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number RCS B283083. The principal and registered
office address for Purchaser is 12C, Rue Guillaume J. Kroll, L-1882 Luxembourg, Grand Duchy of Luxembourg (Telephone: +41 79 509 33 77).
Purchaser principally operates as a private investment vehicle that engages in international corporate equity, debt and asset acquisitions as a securitization company under the Luxembourg Securitization Law (Law of 22 March 2004, as amended by Law of 9 February 2022), focused primarily on securities and debt acquisitions and investment portfolio management. As an investment vehicle, Purchaser may act directly or indirectly in acquiring companies and businesses, including both equity and debt for securitization transactions under Luxembourg law, and is typically supported by clients and client portfolios consisting of high-wealth individuals, families and institutions that may act as passive investors or potential passive investors in the securities, debt and other assets acquired by Purchaser.
The directors, executive officers, managers and control persons of Purchaser are set forth in Schedule I to this ABI Offer to Purchase. Currently, the Executive Director and sole director, officer and shareholder of Purchaser is Dr. Kassem Lahham. The principal business address of Dr. Lahham is c/o BrightFlixx Finance (Luxembourg) S.A., 12C, Rue Guillaume J. Kroll, L-1882 Luxembourg, Grand Duchy of Luxembourg.
Financial Condition
Financial statements of Purchaser have not been included in this ABI Offer to Purchase because such financial statements are not material to a decision by a shareholder whether to tender ABI Shares pursuant to the ABI Offer. This determination has been made in accordance with the rules and regulations of the SEC because the consideration offered in the ABI Offer consists solely of cash, the Offer is not subject to any financing condition, Purchaser is a third party, and the Offer is for all of the outstanding ABI Shares.
Section 11. Interest of Directors and Officers; Transactions and Arrangements
Securities Ownership
Neither Purchaser or its affiliates nor, to the best knowledge of Purchaser, any of the directors, executive officers, managers and control persons identified or listed in Schedule I to this ABI Offer to Purchase, beneficially owns ABI Shares.
Recent Securities Transactions
Based on our records and on information provided to us, neither Purchaser or any of its affiliates, nor any of the directors, executive officer, managers and control persons identified or listed in Schedule I to this ABI Offer to Purchase, has effected any transactions involving ABI Shares during the period of 60 days prior to the date of this ABI Offer to Purchase.
Commercial Agreements or Arrangements
Except for the Tender Offer Agreement dated October 9, 2026 between Purchaser and Alchemy, and the Confidentiality Agreement dated October 9, 2026 between Purchaser and Alchemy; and indirectly, the Tender Offer Agreement dated October 9, 2026 between Purchaser and Cavitation Technologies, Inc. and the Confidentiality Agreement dated October 9, 2026 between Purchaser and Cavitation Technologies, Inc., there are no contracts, arrangements, understandings, or relationships between Purchaser or its affiliates, or any of the directors, executive officers, managers or control persons identified or listed in Schedule I to this ABI Offer to Purchase, with respect to ABI Shares or other securities of Alchemy, including, but not limited to, the transfer or voting of any securities, joint ventures, loan or option arrangements, puts or calls, guarantees of loans, guarantees against loss, or the giving or withholding of proxies.
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Section 12. Legal Matters; Regulatory Approvals
Except as described in this Section 12, Purchaser is not aware of any license or regulatory permit that appears to be material to Alchemy’s business that would be adversely affected by Purchaser’s acquisition of ABI Shares, or any approval or other action by any governmental, administrative, or regulatory agency or authority that would be required for the acquisition or ownership of ABI Shares.
Committee on Foreign Investment in the United States (CFIUS)
Because Purchaser is an entity organized under the laws of a country or jurisdiction outside the U.S. (and is a non-U.S. entity), this ABI Offer to Purchase is subject to review by CFIUS under Section 721 of the Defense Production Act of 1950, as amended. Purchaser and Alchemy intend to file with CFIUS a mandatory declaration for review of the ABI Offer and this ABI Offer to Purchase under U.S. regulations as soon as practicable following the commencement of the ABI Offer and will make a full joint filing with CFIUS if it becomes necessary to do so. It is a condition to Purchaser’s obligation to consummate the ABI Offer that CFIUS shall have concluded its review or investigation and shall have issued a written determination that there are no unresolved national security concerns or shall have indicated that no further action will be taken with respect to the ABI Offer or this ABI Offer to Purchase.
Antitrust Compliance
Purchaser and Alchemy have determined that the ABI Offer and this transaction do not, and will not under any circumstances, meet the “size of transaction” minimum threshold, as adjusted, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) and the regulations promulgated thereunder, or under any applicable state laws, rules or regulations. Accordingly, no premerger notification and report form is or will be required to be filed with the (U.S.) Federal Trade Commission or the (U.S.) Department of Justice under or pursuant to the HSR Act or any state regulatory agency under any similar state law.
No Shareholder Approval Requirement
Since this ABI Offer to Purchase involves a cash tender offer submitted directly to the shareholders of Alchemy (and there is no merger involved), the ABI Offer will not require the approval of the shareholders of Alchemy.
Section 13. Material U.S. Federal Income Tax Consequences
The following represents a general overview of the U.S. (federal) income tax considerations for tendering shareholders:
U.S. Tendering Shareholders
The receipt by tendering shareholders of cash pursuant to the ABI Offer will be treated as a taxable transaction for U.S. (federal) income tax purposes. U.S. shareholders that sell their ABI Shares pursuant to the ABI Offer generally will recognize a capital gain or loss equal to the difference between the cash received by the shareholders and their adjusted tax basis in the Shares tendered and acquired by Purchaser. If the Shares have been held for a year or longer, the gain or loss resulting from a sale of the Shares pursuant to the ABI Offer may qualify as a long-term capital gain or loss.
U.S. shareholders may be subject to a 24% backup tax withholding (by the IRS) unless they properly and accurately complete the IRS Form W-9 located inside the ABI Letter of Transmittal.
Non-U.S. Tendering Shareholders
Generally, since it does not appear that Alchemy has ever been a “United States real property holding corporation” under the Foreign Investment in Real Property Tax Act (“FIRPTA”), non-U.S. shareholders will not be subject to the mandatory 15% tax withholding on gain realized from the tender (and sale) of their ABI Shares pursuant to the ABI Offer, provided that they execute and submit to the Depositary an applicable IRS Form W-8BEN, W-8BEN-E, or other appropriate Form W-8 along with their Letter of Transmittal.
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Shareholders Should Consult Their Tax Advisors
The brief summary provided herein is informational only and is not intended as tax advice. Both U.S. shareholders and non-U.S. shareholders are strongly urged to consult their own tax advisors regarding the specific consequences of tendering their ABI Shares pursuant to the ABI Offer.
Section 14. Extension of the Offer; Amendment; Termination
We expressly reserve the right, in our sole discretion, at any time and from time to time, and regardless of whether or not any of the Offer Conditions set forth in Section 6 shall have been satisfied or shall have been waived by us, to extend the period of time during which the ABI Offer is open (including our obligation to extend the Expiration Time after the Final Offer price is determined and announced) and thereby delay acceptance for payment of, and payment for, any ABI Shares by giving oral or written notice of such extension to the Depositary and making a public announcement of such extension. Subject to compliance with applicable laws and regulations, we further reserve the right, in our discretion, to amend the ABI Offer in any respect, except that we will not have the right to amend the ABI Offer to decrease Final Offer Price once it is determined following the Record Date.
Subject to compliance with applicable laws and regulations, we also expressly reserve the right to terminate the ABI Offer and not accept for payment or pay for any ABI Shares, but only if grounds for termination or withdrawal of the ABI Offer exist under the ABI Agreement or there is a failure of the Offer Conditions (see Section 6), and to postpone payment for ABI Shares for any reason permissible under Rule 14d-1(c) under the Exchange Act, which may include delays caused the timing of regulatory approvals or any additional time required for the Depositary to process physical certificates or book-entry transfers and implement payment disbursements. Our reservation of the right to delay payment for Shares that we have accepted for payment is limited by Exchange Act Rule 14e-1(c), which requires that we must pay the consideration offered or return the Shares tendered promptly after termination or withdrawal of the ABI Offer.
This ABI Offer may not be terminated or withdrawn prior to the final Expiration Time and Purchaser’s acceptance of the ABI Shares for payment under the ABI Offer unless the ABI Agreement is terminated pursuant to specific grounds. Termination of the ABI Agreement (with a corresponding termination or withdrawal of the ABI) prior to the final Expiration Time and Purchaser’s acceptance of ABI Shares for payment may occur only as follows:
| · | By the mutual written consent of Purchaser and Alchemy; |
| · | By Purchaser or Alchemy if (a) the ABI Offer period has expired (or terminated) without an extension and without Purchaser having accepted ABI Shares for payment, or (b) a governmental entity has taken action to permanently block or prohibit Purchaser from consummating the ABI Offer and purchasing tendered ABI Shares; |
| · | By Alchemy if it receives a superior offer for the ABI Shares from a third party, or if a “changed circumstance” occurs and, after a five-day negotiations period with Purchaser, no modification to the Final Offer Price has been agreed upon that would remove or adequately address the superior offer or the changed circumstance; |
| · | By Alchemy or Purchaser if, upon receiving a Fairness Opinion that values Alchemy at more than $7 million, Alchemy and Purchaser cannot agree on an adjustment to the Final Offer Price and Alchemy’ board of directors declines to issue a final board recommendation that recommends the ABI Offer to shareholders; |
| · | By Alchemy if Purchaser fails to accept for payment all ABI Shares validly tendered (and not withdrawn) pursuant to the ABI Offer; and |
| · | By Alchemy or Purchaser if Purchaser’s acceptance of the ABI Shares for payment has not occurred by 6:00 p.m., Pacific Time or Pacific Daylight time, as applicable, on June 30, 2027. |
Section 15. Fees and Expenses; Information Agent and Depositary
(a) The Depositary. Pursuant to the Agreement, Purchaser and Alchemy have selected, and Purchaser has retained, Dynamic Stock Transfer, Inc., 3347 Cerritos Avenue, Los Alamitos, CA 90720 (the “Depositary”), a registered transfer agent with the SEC (SEC File No. 084-06547; CIK 0001676177), to act as the depositary and paying agent in connection with the ABI Offer. The Depositary also serves as the transfer agent for Alchemy.
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| · | The Depositary will receive reasonable and customary compensation for its services, will be reimbursed for reasonable out-of-pocket expenses, and will be indemnified against certain liabilities in connection with the ABI Offer, including certain liabilities under the federal securities laws. |
| · | The Depositary will receive physical stock certificates, process electronic book-entry transfers via the Depository Trust Company (DTC), and, based on share and price calculations provided by Purchaser, will distribute the final net cash consideration to tendering shareholders. |
| · | For its services, the Dynamic Stock Transfer, Inc. will receive a fixed fee of approximately $25,000 to act as the Information Agent and the Depository in connection with the ABI Offer. |
The Depositary is not an affiliate of either Purchaser or Alchemy. No broker, dealer, commercial bank, trust company, or other nominee will be deemed to be the agent of Purchaser or the Depositary for purposes of the ABI Offer. Brokers and banks will be reimbursed by Purchaser for customary mailing and handling expenses incurred in forwarding materials to their clients.
(b) Solicitations or Recommendations. Purchaser has not employed, retained, or compensated any person to make solicitations or recommendations in connection with the ABI Offer, except that Purchaser has retained the Depositary to provide administrative and processing services in connection with the ABI Offer.
Section 16. Additional Information-Fairness Opinion
Under the terms of the Alchemy Agreement, Alchemy will secure a Fairness Opinion from an independent third party that will evaluate and provide an opinion on the market value of Alchemy and its capital stock as an ongoing business. If the Fairness Opinion suggests a valuation of Alchemy that is greater than the $7 million dollar aggregate price for ABI Shares included in the ABI Offer, then under the terms of the Alchemy Agreement:
| · | Alchemy and Purchaser will evaluate and consider whether, based on the Fairness Opinion, the aggregate price for ABI Shares ($7,000,000) and the Final Offer Price determined following the Record Date should be increased; and |
| · | Alchemy will have the right, during a 5-day negotiations period, to attempt to secure Purchaser’s agreement to increase the $7 million aggregate price for ABI Shares, and the Final Offer Price determined following the Record Date, to a level that will enable Alchemy and its board of directors to issue a favorable recommendation for the ABI Offer. If Alchemy is unable to secure a higher price for ABI Shares to a level that is acceptable and Alchemy’s board of directors declines to issue a board recommendation that recommends the ABI Offer to shareholders, both Alchemy and Purchaser will have the right to terminate the ABI Agreement as disclosed in Section 14 of this ABI Offer to Purchase. |
Section 17. Miscellaneous
In making the ABI Offer, we are not aware of any U.S. State where the making of the ABI Offer is not in compliance with applicable law. If, however, we become aware that the making of the ABI Offer or the acceptance of ABI Shares pursuant to the ABI Offer is not permitted by administrative or judicial action pursuant to a U.S. state law, rule or regulation (each a “State Law”), we will make a good faith effort to comply with such applicable State Law. If, after such good faith effort, we cannot comply with the State Law, the ABI Offer will not be made to the holders of ABI Shares in that U.S. State. In any U.S. state where the securities or Blue Sky laws require the ABI Offer to be made by a licensed broker or dealer, the ABI Offer shall be deemed to be made on our behalf by one or more registered brokers or dealers licensed under the laws of such U.S. state. We have filed with the SEC a Tender Offer Statement on Schedule TO-T, which contains additional information with respect to the ABI Offer. The Schedule TO-T, including the exhibits and any amendments and supplements thereto, may be examined, and copies may be obtained or requested from Alchemy (see Section 9 for Alchemy’s address and telephone number), from Purchaser (see Section 10 for Purchaser’s address and telephone number), or from the Depositary (see Section 3 and information on the last page of this ABI Offer to Purchase for the address and telephone number of the Depositary).
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We have not made any recommendation as to whether you should tender or refrain from tendering your ABI Shares to the ABI Offer. We have not authorized any person to make any recommendation on our behalf as to whether you should tender or refrain from tendering your ABI Shares to the Offer. We have not authorized any person to give any information or to make any representations in connection with the ABI Offer other than those contained in this document or documents incorporated by reference or in the related ABI Letter of Transmittal. If given or made, any recommendation or any such information or representations must not be relied upon as having been authorized by us, the Information Agent and Depositary or any of our or their respective affiliates.
Dated: October 20, 2026.
BrightFlixx Finance (Luxembourg) S.A.
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SCHEDULE I
PURCHASER AND ITS DIRECTORS, EXECUTIVE OFFICERS AND CONTROL PERSONS
Purchaser is BrightFlixx Finance (Luxembourg) S.A., a public limited company (société anonyme) organized under the laws of the Grand Duchy of Luxembourg (referred to herein as the “Purchaser”). The principal and registered office address for Purchaser is 12C, Rue Guillaume J. Kroll, L-1882 Luxembourg, Grand Duchy of Luxembourg (Telephone: +41 79 509 33 77).
Purchaser principally operates as a private investment vehicle that engages in international corporate equity, debt and asset acquisitions as a securitization company under the Luxembourg Securitization Law (Law of 22 March 2004, as amended by Law of 9 February 2022), focusing primarily on securities and debt acquisitions and investment portfolio management. As an investment vehicle, Purchaser may act directly or indirectly in acquiring companies and businesses, including both equity and debt for securitization transactions under Luxembourg law, and is typically supported by clients and client portfolios consisting of high-wealth individuals, families and institutions that may act as passive investors or potential passive investors in the securities, debt and other assets acquired by Purchaser.
Purchaser is governed by a board of directors, which may consist of a single director. As of October 9, 2026, the Executive Director and the sole director and shareholder of Purchaser was (and is) Dr. Kassem Lahham.
Dr. Lahham is a citizen of Germany, where he was born, is fluent in German, Arabic, French and English languages, is a professional certified teach and banking instructor (Germany) and holds (guest) teaching positions at the Gulf University for Science and Technology (GUST) and the American University of Kuwait (AUK), each of which is located in Kuwait. Dr. Lahham’s career path began in 1987 when he joined Deutsche Bank and now spans more than three decades in the financial industry, with a primary focus on wealth management, fintech, private banking, and mergers and acquisitions.
The following table sets forth the name, citizenship, present principal occupation or employment, and material positions held during the past five years of each executive officers and managers of Purchaser. Unless otherwise indicated, the principal business address of each person is c/o BrightFlixx Finance (Luxembourg) S.A, 12C, Rue Guillaume J. Kroll, L-1882 Luxembourg, Grand Duchy of Luxembourg (Telephone: +41 79 509 33 77).
| Name and Title | Citizenship | Present Principal Occupation and 5-Year Employment History |
| Kassem Lahham, Executive Director and Sole Director, BrightFlixx Finance (Luxembourg) S.A. | Germany |
03/30/2021-Present: Co-Founder and Chief Executive Officer, Bright Wealth Banking Consultant, a company organized and licensed in Dubai, United Arab Emirates (UAE);
01/02/2024-Present: Executive Director, sole director and shareholder of BrightFlixx Finance (Luxembourg) S.A., a Luxembourg company;
2019-Present: Co-Founder and Chief Strategy Officer, Springbox AI Technologies Ltd., a company organized in Dubai, United Arab Emirates (UAE).
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During the past five years, neither Purchaser (the filing person) nor any of the directors, officers or control persons of Purchaser named above, to the best knowledge of Purchaser after reasonable inquiry, (a) has been convicted in a criminal proceeding of a criminal offense (excluding traffic violations and similar misdemeanors), or (b) was a party to any judicial or administrative proceeding (except for matters dismissed without sanction or settlement) that resulted in a judgment, decree, or final order enjoining him/her from future violations of, or prohibiting activities that are subject to, federal or state securities laws, or any finding any violation of or with respect to such laws.
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The ABI Letter of Transmittal and certificates for ABI Shares and any other required documents should be sent or delivered by each shareholder or such shareholder’s broker, dealer, commercial bank, trust company or other nominee to the Depositary at the address set forth below.
The Depositary for the ABI Offer is:
Dynamic Stock Transfer, Inc.
3347 Cerritos Avenue
Los Alamitos, CA 90720 USA
Telephone: (213) 667-0197
DELIVERY OF THE ABI LETTER OF TRANSMITTAL TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY TO THE DEPOSITARY.
Questions or requests for assistance may be directed to the Information Agent at its telephone number and address set forth below. Requests for additional copies of this ABI Offer to Purchase, the related ABI Letter of Transmittal or the other Offer materials may be directed to the Information Agent at the telephone number and address set forth below. Shareholders of Alchemy also may contact their broker, dealer, commercial bank, trust company or other nominee for assistance concerning the ABI Offer. To confirm delivery of ABI Shares, shareholders are directed to contact the Depositary.
The Information Agent for the ABI Offer is:
Dynamic Stock Transfer, Inc.
3347 Cerritos Avenue
Los Alamitos, CA 90720 USA
Telephone: (213) 667-0197
Email: cs@dynamicstocktransfer.com
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