The takeover will end chairman Dean Hoyle's 14-year association with Huddersfield, who are currently third from bottom in the Championship, on 36 points from 38 games and in danger of being relegated.
Hoyle acquired 75% of Huddersfield's shares to become sole shareholder before signing a contract with the North American group to sell the club, Huddersfield said in a statement.
Completion is subject to legislative and governance procedures, the club said.
Huddersfield were placed under a transfer embargo this month for submitting their annual accounts late.
Hoyle first took over as chairman of the club side in 2009, selling the team to Phil Hodgkinson a decade later. He returned to Huddersfield in 2021 but stepped down as chief executive due to health issues in 2022.
