Fusion Fuel Green (HTOO) said it signed a non-binding letter of intent to acquire a British fuel distributor in a deal valued at 50 million British pounds ($63.9 million).
The company said the proposed purchase includes 25 million pounds from debt financing, 2 million pounds from a capital raise, 8 million pounds in shares with a make-whole provision, and two later cash payments of 7.5 million pounds each.
Fusion Fuel said the target company generated about $54 million in revenue and $7 million in net income in 2024.
The deal remains subject to due diligence, definitive agreements, and regulatory approvals, the company said.
Shares of Fusion Fuel were down over 5% in recent trading.
Price: 0.22, Change: -0.01, Percent Change: -5.22
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