As the sale process unfolds, USNC stated in a press release that it expects to “maintain full operational continuity” across its projects. In addition, the company has obtained debtor-in-possession financing to support its business operations and satisfy its obligations during the court-supervised process.

The agreement: According to an asset purchase agreement reached on October 28, Standard Nuclear is to serve as the stalking horse bidder for USNC’s fuel-related assets and technology development contracts. Under the terms agreed, Standard Nuclear will acquire “substantially all,” as stated by Bloomberg Law, of USNC’s assets for $28 million in cash. This bid establishes a floor for the assets, subject to better…