DealsOct 29, 2026, 04:08 PM
Outdoor Specialty Products Agrees to Sell Controlling Stake to Quantum Fund
AI Summary
Outdoor Specialty Products, Inc. (ODRS) has entered into a Stock Purchase Agreement with Quantum Qualified Opportunity Fund, LLC. Quantum will acquire a controlling number of ODRS's common stock for $1,500,000, resulting in Quantum owning approximately 95% of the company post-closing. In conjunction with the deal, founding shareholders will exchange 4,000,000 common shares for Series A Preferred Stock. The transaction will also see the repayment of outstanding promissory notes to principal stockholders.
Key Highlights
- Quantum Qualified Opportunity Fund to acquire a controlling stake in Outdoor Specialty Products, Inc.
- Quantum will purchase 24,402,042 shares of common stock for $1,500,000.
- Founding shareholders will exchange 4,000,000 common shares for 100 shares of Series A Preferred Stock.
- Quantum will own approximately 95% of the outstanding common stock post-transaction.
- Outstanding revolving promissory notes totaling $226,792 principal plus interest will be paid off.
- New officers to be appointed post-closing, including Dennis M. Danzik as President.
Price Impact
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