Actelis Networks has initiated termination procedures for its previously announced potential acquisition of Quality Industrial Corp (QIND). The company provided the required 30-day termination notice on October 10, 2024, exercising its rights under the binding term sheet signed on May 23, 2024.The original agreement outlined plans to acquire between 61% to 75% of QIND's issued and outstanding shares. As of the termination notice date, no definitive agreement had been reached between the parties, and the non-solicitation and no-shop periods specified in the term sheet were not extended.

Actelis Networks has initiated termination procedures for its previously announced potential acquisition of Quality Industrial Corp (QIND). The company provided the required 30-day termination notice on October 10, 2024, exercising its rights under the binding term sheet signed on May 23, 2024.The original agreement outlined plans to acquire between 61% to 75% of QIND's issued and outstanding shares. As of the termination notice date, no definitive agreement had been reached between the parties, and the non-solicitation and no-shop periods specified in the term sheet were not extended.