By Dean Seal
Terrestrial Energy has agreed to go public by merging with a blank check company.
The company said the deal with blank-check company HCM II Acquisition gives it a pre-money equity value of $925 million and would make it the first publicly traded developer of molten salt nuclear reactors.
The transaction should provide about $280 million in gross proceeds that will be used to accelerate commercial deployment of the company's Integral Molten Salt Reactor technology and pay deal costs.
The merger is expected to close in the fourth quarter. Terrestrial will apply to be listed on Nasdaq under the ticker IMSR.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 26, 2025 10:23 ET (14:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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