Deep Fission Inc., a nuclear energy company developing underground small modular reactors, has initiated a roadshow to market a proposed public offering of common stock. The company plans to offer 6 million shares, with an indicated price range of $24.00 to $26.00 per share, according to a company statement.
Under the terms disclosed, Deep Fission has granted the offering underwriters a 30-day option to purchase up to an additional 900,000 shares at the initial public offering price, less underwriting discounts and commissions. The company has also submitted an application to list its common stock on the Nasdaq Global Market under the ticker symbol "FISN."
Deep Fission described the intended uses of the net proceeds as general working capital and corporate purposes. The company specifically identified engineering, research and development, licensing and the construction of its first pilot nuclear reactor, as well as related technologies, as areas that would be funded from the offering.
Investment banks leading the transaction were named in the company statement. William Blair, Stifel, and Canaccord Genuity are serving as joint lead book-running managers. Seaport Global Securities and Benchmark, a StoneX Company, are acting as bookrunners.
The company has filed a registration statement with the Securities and Exchange Commission in connection with the proposed offering; however, that registration statement has not yet become effective. The pending status of the filing means the offering remains subject to regulatory clearance before it can proceed to completion.
Deep Fission develops small modular pressurized water reactors that the company says are designed for installation one mile underground. The proposed capital raise and Nasdaq listing represent steps the company is taking to secure funding for early-stage development, licensing activities and the construction of its initial pilot facility.
Contextual note - Information above is drawn from the company statement and its regulatory filing; the registration remains pending and the offering is subject to the conditions and approvals described by the company.