M&A
confidence high
sentiment neutral
materiality 0.75
Quality Industrial Corp. (QIND): M&A transaction — Quality Industrial closes sale of 69.36% stake to Fusion Fuel; control changes
Quality Industrial Corp.
- Stock Purchase Agreement closed Nov 26, 2024: Sellers transferred 78,312,334 common shares and 20,000 Series B Preferred shares (69.36% of outstanding capital) to Fusion Fuel.
- Fusion Fuel issued 3,818,969 Class A ordinary shares and 4,171,327 Series A Convertible Preferred Shares (convertible into 41,713,270 ordinary shares).
- Post-closing, Quality Industrial will be a majority-owned operating subsidiary of Fusion Fuel, with potential future merger to become wholly owned.
- Certain stockholders entered into a 6-month lock-up agreement restricting transfer of Fusion Fuel shares received.