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.

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