secwatch.observer — SEC 8-K summary
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Issuer:     Quality Industrial Corp. (QIND)
CIK:        0001393781
Form:       8-K
Filed at:   2023-01-18T23:59:59+00:00
Accession:  0001663577-23-000018
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quality Industrial Corp. agrees to buy 52% of Quality International for up to $137M
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- Purchase price up to $137M in six cash tranches; first $1M already paid.
- Second and third tranches total $81M due within 210 days of closing.
- Remaining $55M payable in three tranches contingent on 2023 and 2024 audited EBITDA targets.
- Target company manufactures solutions for oil/gas, energy, water, and offshore sectors.
- Buyer gets two board seats; existing shareholders get two; independent seat to be mutually chosen.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393781/000166357723000018/0001663577-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393781/000166357723000018/qind8k.htm
  HTML page:      https://secwatch.observer/filing/0001663577-23-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer