Standard Nuclear, which manufactures TRISO fuel for small modular reactors across the US, raised $150 million by offering 10 million shares at $15. The company originally filed to offer the 18.3 million shares at a range of $18 to $21, before it cut the number of shares offered and decreased the expected offering price to $15 on Wednesday.
Standard Nuclear designs, engineers, and manufactures TRISO fuel, an advanced nuclear fuel used in small modular reactors and microreactors. The company operates the only dedicated, privately funded industrial-scale TRISO production line in the United States, having acquired the underlying assets from Ultra Safe Nuclear through a bankruptcy auction in 2024. It generates revenue primarily through fuel development agreements with commercial customers and US government agencies, and had a total contract backlog of up to $245 million.
The Oak Ridge, TN-based company will trade on the NYSE under the symbol STDN. BofA Securities, Goldman Sachs, Barclays, UBS Investment Bank, Evercore ISI, RBC Capital Markets, William Blair, and Stifel acted as joint bookrunners on the deal.
