Terrestrial Energy to Become First Publicly Traded Molten Salt Nuclear Reactor Developer Through Combination with HCM II Acquisition Corp.
HCM II Acquisition Corp. - Class A Ordinary Shares (HOND)
Company Research
Source: GlobeNewswire
Terrestrial Energy Inc. (“Terrestrial Energy” or the “Company”) is developing a small modular nuclear plant (the Terrestrial “IMSR plant”) using proprietary Generation IV Integral Molten Salt Reactor (IMSR) nuclear technology. Terrestrial Energy’s IMSR plant will supply high- temperature, clean, firm and flexible heat and electricity, with sector-competitive economics and leading time-to-market at fleet scale.The Transaction will provide approximately $280 million in gross proceeds consisting of $50 million in common stock PIPE commitments at $10.00 per share from new non-affiliated fundamental institutional investors, and approximately $230 million of cash held in HCM II Acquisition Corp.’s (“HCM II”) trust account before potential redemptions. Proceeds will be used to accelerate commercial deployment of Terrestrial Energy's IMSR technology and to pay transaction expenses.The Transaction values Terrestrial Energy at a pre-money equity value of $925 million, providing an attractive en
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