BW subsidiary sells majority of assets to Kanadevia Inova for $15M plus DKK 400k and $5M loan

Babcock & Wilcox Enterprises, Inc.

Base purchase price $15M + 400k DKK; additional contingent payments if Buyer enters certain project agreements within 5 years.
Buyer loaned BWAS $5M; loan repaid when BWAS transfers certain retained IP usage rights to NewCo.
Transaction includes transition services, IP license, subcontractor, and legacy contract services agreements.
Pro forma shows divested group had 2024 revenue of $19.7M, operating loss of $5.2M, net loss of $7.2M.
BWAS had been classified as held for sale since Dec 2024; results reflected as discontinued operations.

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