Terrestrial Energy nets $280M through SPAC merger, eyes Nasdaq listing
Deal News | Mar 26, 2025 | EIN
Terrestrial Energy, a nuclear startup based in North Carolina, announced its merger with a special purpose acquisition company (SPAC), aiming to transform the landscape of small modular reactors (SMRs). The company is set to realize $280 million through this deal and intends to list on Nasdaq under the ticker IMSR, which is indicative of its integral molten salt reactor technology. The innovative approach involves uranium fuel combined with salts to cool the reactor, and a core that can be replaced every seven years, mitigating historical corrosion issues. Amid growing electricity demand due to the rise of AI technologies and data centers, Terrestrial Energy sees promising market applications for its reactors in diverse sectors. Its SPAC move follows in the footsteps of other nuclear tech ventures such as Oklo, fueling anticipation of a future renaissance in nuclear power adoption.
Sectors
- Nuclear Energy
- Financial Services - SPAC
- Technology
Geography
- United States – Terrestrial Energy is based in North Carolina and plans a public listing on the Nasdaq stock exchange, situated in the U.S.
Industry
- Nuclear Energy – The article pertains to the development and commercialization of small modular reactors, a subsector within nuclear energy.
- Financial Services - SPAC – The article discusses a merger involving a special purpose acquisition company (SPAC), which is a financial vehicle used to bring companies public.
- Technology – The article mentions the demand from tech companies needing advanced nuclear reactors for powering AI and data centers.
Financials
- $280 million – Net proceeds expected from Terrestrial Energy's SPAC merger.
- $94 million – Amount previously raised by Terrestrial Energy prior to the SPAC merger, according to PitchBook.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Terrestrial Energy | Target | Company | Nuclear startup developing small modular reactors, based in North Carolina. |
| SPAC | Bidding Company | Company | An acquisition company merging with Terrestrial Energy to facilitate its public listing. |
| Nasdaq | Stock Exchange | Other | U.S. stock exchange where the merged entity is expected to list. |