ILUS to swap majority stake in Quality Industrial for stake in Fusion Fuel Green
seekingalpha
20 Nov 2024
Ilustrato Pictures International (OTCPK:ILUS) said on Wednesday that it has signed a stock purchase agreement with Fusion Fuel Green (HTOO) and certain other shareholders of Quality Industrial for Fusion Fuel to acquire a 69.36% stake in Quality Industrial.
As consideration for the ILUS stake in QIND, Fusion Fuel will issue a combination of ordinary shares and convertible preferred shares, resulting in ILUS holding a stake of 55.38% of Fusion Fuel on an as-converted, fully diluted basis.
The acquisition of a majority stake in QIND is anticipated to establish a profitable and cash-flow-positive foundation for Fusion Fuel.
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