Energy company Holtec Nuclear Corporation took a major step toward going public on Friday, submitting its initial public offering filing with U.S. regulators.
The move comes as the American IPO market has made a strong comeback following several years of sluggish activity. Bigger deals and listings tied to artificial intelligence have pushed the total dollar value of offerings toward record-breaking territory, even though the overall number of new public companies remains well below the highs seen during previous boom periods.
Holtec’s core business centers on developing small modular reactors, known as SMRs. These compact nuclear units are promoted as being more affordable and faster to construct compared to traditional full-scale nuclear plants, which can take many decades to complete.
The company sees its SMR technology as a potential replacement for coal-burning power plants and as a way to meet more localized energy demands.
Several major financial institutions are serving as underwriters for the offering, including J.P. Morgan, Guggenheim Securities, Goldman Sachs, and Citigroup.
Holtec plans to list its shares on both Nasdaq and Nasdaq Texas, trading under the ticker symbol “HNUC.”
