Graham Corp. (GHM) said that it has acquired P3 Technologies, LLC, a custom turbomachinery engineering, product development and manufacturing business for the space, new energy and medical markets.
A stock and cash transaction, P3 was acquired from its sole owner who, along with P3's leadership team, will remain with the Company, Graham said in a statement.
Graham noted that the acquisition price has not been disclosed at this time. However, the stock element of the purchase price is valued at $2 million and the number of shares of Company's common stock issued as part thereof was determined using a stock price of $15.92, which represents the average closing price for the company's common stock for the 10 trading days ending on November 3, 2023.
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