Standard Nuclear Seeks US$3.55 Billion Valuation in New York IPO
Synopsis
Key Highlights Standard Nuclear could be valued as high as US$3.55 billion in a U.S. IPO The company plans to raise US$383.25 million at up to 18.25 million shares. The sale price at which…
Key Highlights
- Standard Nuclear could be valued as high as US$3.55 billion in a U.S. IPO
- The company plans to raise US$383.25 million at up to 18.25 million shares.
- The sale price at which the nuclear fuel producer will list on New York is STDN.
Standard Nuclear is eyeing a valuation of up to US$3.55 billion ahead of its U.S. initial public offering, among dozens finding a warm reception from improving investor sentiment in the IPO market
The London-based nuclear fuel company expects to raise US$383.25 million from issuing 18.25 million shares priced between US$18 and US$21 each.
Revenue Growth Supports Listing
Standard Nuclear said Thursday revenue for the quarter ended March 31 was US$593,802, a 57% increase according to its IPO filing. It develops advanced nuclear fuel and radioisotope power systems to help propel the company to scale up domestic manufacturing capacity to improve U.S. energy security.
Founder to Retain Voting Control
Post-IPO, founder Thomas Hendrix will use Class B shares to control around 59.5% of the company’s voting power, firmly in charge of critical corporate decisions for now.
The offering comes as the U.S. IPO market is regaining ground with an easing of geopolitical tensions, robust equity markets and prospects for new issue supply improving among institutional investors. The offering is being led by BofA Securities, Goldman Sachs, Barclays and UBS Investment Bank & Investment.
Source: Reuters
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