Mr. George J. Coates and son Gregory G. Coates, majority owners of Advanced Hydrogen Power, Ltd. and Coates International Ltd. have signed a contractual agreement on April 2, 2025 to sell both companies for $400,000,000 USD

Rhea-AI Summary

Coates International Ltd. (COTE) and Advanced Hydrogen Power, Ltd. have entered into a definitive agreement to be acquired by an undisclosed private bank for $400 million. The transaction, signed on April 2, 2025, includes the sale of both companies along with all their technologies and patents.

The deal structure allocates $300 million to the sellers, $75 million for working capital and expansion of the companies, and $25 million for broker fees. Current majority owners George J. Coates (CEO) and Gregory G. Coates (VP) will remain with the companies to establish manufacturing operations.

Positive

• Significant acquisition deal valued at $400 million
• $75 million allocated for working capital and expansion
• Key management (George and Gregory Coates) to remain with companies
• All technologies and patents included in the deal

Negative

• Buyer identity not disclosed, creating uncertainty
• Limited details on future operational plans and strategy

Wall Township, NJ, May 16, 2025 (GLOBE NEWSWIRE) -- The majority owners Mr. George J. Coates, CEO and son Gregory G. Coates, VP of Advanced Hydrogen Power, Ltd. and Coates International Ltd. have signed a corporation’s business sale contractual agreement to sell their two companies and all technologies and patents for $400,000,000 USD. The buyer is a private bank, not disclosed. George and Gregory are to stay with the companies and set up manufacturing operations.

The agreement dispersal $300,000,000 to sellers, $75,000,000 to companies for working capital and expansion, and $25,000,000 broker fees. More news coming soon. Please contact us at www.coatesengine.com, info@coatesengine.com, or (732) 449-7717 for more information.

FAQ

What is the acquisition price for COTE and Advanced Hydrogen Power?

The acquisition price is $400 million USD, with $300 million going to sellers, $75 million for working capital and expansion, and $25 million for broker fees.

Who is buying Coates International Ltd (COTE)?

The buyer is an undisclosed private bank. The specific identity has not been revealed in the announcement.

Will the current management of COTE stay after the acquisition?

Yes, George J. Coates (CEO) and Gregory G. Coates (VP) will remain with the companies to set up manufacturing operations.

What assets are included in the COTE acquisition deal?

The deal includes both companies (Coates International Ltd. and Advanced Hydrogen Power, Ltd.) along with all their technologies and patents.

When was the COTE acquisition agreement signed?

The contractual agreement was signed on April 2, 2025.