ILUS Agrees to Swap Majority Stake in Quality Industrial Corp. for Future Majority Stake in Fusion Fuel Green (NASDAQ: HTOO)
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ILUS has agreed to swap its majority stake in Quality Industrial Corp. for a future majority stake in Fusion Fuel Green. This involves Fusion Fuel acquiring a 69.36% stake in Quality Industrial Corp. and ILUS receiving a 55.38% stake in Fusion Fuel, pending shareholder approval and Nasdaq listing clearance.
November 20, 2024 | 2:15 pm
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Fusion Fuel Green is acquiring a 69.36% stake in Quality Industrial Corp. in exchange for issuing shares to ILUS, which will hold a 55.38% stake in Fusion Fuel. This deal is contingent on shareholder approval and Nasdaq listing clearance.
The acquisition of a majority stake in Quality Industrial Corp. by Fusion Fuel Green is a significant strategic move that could enhance Fusion Fuel's market position. The issuance of shares to ILUS, resulting in ILUS holding a majority stake in Fusion Fuel, indicates a major restructuring. The deal's completion is contingent on shareholder approval and Nasdaq listing, which introduces some uncertainty but also potential for growth if successful.
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