Fusion Fuel (HTOO) Green announced that it has signed a non-binding letter of intent, LOI, to acquire 100% of a privately held British fuel distribution company. In the proposed acquisition, the Company will purchase 100% of the outstanding shares of the Target from its shareholders for total consideration valued at GBP 50 million, consisting of GBP 25 million in cash funded through debt financing, GBP 2 million in cash financed from a capital raise, GBP 8 million in the Company’s shares subject to a make-whole agreement, and two additional payments of GBP 7.5 million cash each within nine months and 18 months from the closing.
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