NANO Nuclear Energy (NNE) announced the signing of a letter of intent for the proposed sale of its ODIN low-pressure coolant microreactor design and all associated intellectual property to Cambridge Atom Works, a United Kingdom based advanced reactor developer who is already developing ODIN for NANO Nuclear on an outsourced consulting basis. The letter of intent calls for a total purchase price of $6.2M, with a $250,000 upfront non-refundable down payment to NANO Nuclear and a $5.95M payment in 2026 as well as future low single-digit royalties payable to NANO Nuclear based on net sales if and when ODIN is commercialized. The transaction remains subject to execution of definitive documentation and the satisfaction of customary closing conditions.
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