Standard Nuclear announced on Tuesday that it intends to raise up to $383.25 million through an initial public offering in the United States. The company plans to offer 18,250,000 shares of Class A common stock, with a proposed price band from $18.00 to $21.00 per share, according to a regulatory filing made available on Tuesday.
In the filing, Standard Nuclear said it has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol STDN. The document outlines the size of the offering and the targeted price range, but does not disclose a final share price or the ultimate proceeds, which will depend on the final pricing and sale of the shares.
Standard Nuclear describes itself as a U.S.-based aerospace and defense technology firm focused on the development and manufacture of tristructural-isotropic, or TRISO, nuclear fuels. The firm produces high-assay low-enriched uranium, abbreviated HALEU, in fuel forms that incorporate layered ceramic coatings engineered to resist melting at very high temperatures. The company positions this technology primarily for deployment in small modular reactors - SMRs - aimed at commercial and industrial power applications.
The filing names a group of underwriters handling the offering: BofA Securities, Goldman Sachs & Co. LLC, Barclays, UBS Investment Bank, Evercore ISI, RBC Capital Markets, William Blair, and Stifel. The regulatory filing submitted by the company is the source for the offering details released publicly on Tuesday.
Context and next steps
The filing indicates the company is taking steps to access public equity capital markets. The offering size and price range are set out in the prospectus, while the process will proceed through customary underwriting and regulatory channels.
What is known
- Target gross proceeds of up to $383.25 million.
- 18,250,000 Class A shares proposed for sale at $18.00 to $21.00 per share.
- Application to list on the New York Stock Exchange under STDN.
- Company produces TRISO and HALEU fuels intended for SMRs.
- Underwriters: BofA Securities; Goldman Sachs & Co. LLC; Barclays; UBS Investment Bank; Evercore ISI; RBC Capital Markets; William Blair; Stifel.
Note: The filing communicates the company's intentions and the parameters of the proposed offering. Final terms, timing, and listing outcomes will be determined through the ongoing offering and listing processes and are not specified beyond the information in the filing.