Holtec Nuclear, a provider of nuclear plant equipment and services that is developing a small modular reactor, announced terms for its IPO on Tuesday.
The Camden, NJ-based company plans to raise $825 million by offering 50 million shares at a price range of $15 to $18. At the midpoint of the proposed range, Holtec Nuclear would command a market value of $9.4 billion.
Holtec Nuclear is a nuclear energy company operating across four primary business lines: legacy nuclear services (spent fuel storage and transportation casks, heat exchange equipment, and decommissioning), small modular reactor development, plant restart operations, and related engineering and manufacturing activities. The company owns the Palisades Nuclear Power Plant in Covert, Michigan, which it is working to return to commercial operation following its 2022 shutdown, and holds rights to four additional former nuclear plant sites (Oyster Creek, Pilgrim, Indian Point, and Big Rock Point). Holtec has developed the SMR-300, a Generation III+ pressurized water small modular reactor design, and plans to deploy an initial dual-unit installation (Pioneer One and Pioneer Two) at the Palisades site in partnership with Hyundai Engineering & Construction under a build-own-and-operate model. The Palisades restart is supported in part by a US Department of Energy loan guarantee facility of up to $1.5 billion.
Holtec Nuclear was founded in 1986 and booked $560 million in revenue for the 12 months ended June 30, 2026. It plans to list on the Nasdaq under the symbol HNUC. J.P. Morgan, Guggenheim Securities, Goldman Sachs, Citi, BofA Securities, Morgan Stanley, Cantor Fitzgerald, BMO Capital Markets, and Oppenheimer & Co. are the joint bookrunners on the deal. It is expected to price during the week of September 14, 2026.
