GSR III Acquisition (GSRT) and Terra Innovatum said they have signed a deal whereby Terra will go public through a merger with GSR III, valuing the company at $475 million.

The micro-modular nuclear reactor developer and GSR III Acquisition said Terra Innovatum will list its shares on the Nasdaq under the ticker NKLR.

The transaction, expected to close in H2, is expected to provide up to $230 million in gross proceeds before redemptions and other adjustments, the companies said, adding that current Terra Innovatum shareholders will roll all their equity into the combined company.

Terra Innovatum, which is developing a small-scale, factory-assembled nuclear reactor called Solo, began formal engagement with US nuclear regulators in January, according to the combined statement.