Holtec Nuclear Seeks $10.2 Billion Valuation in Nasdaq IPO
Holtec Nuclear Corporation is preparing for a Nasdaq initial public offering (IPO) with an estimated valuation of up to $10.2 billion, positioning it as one of the largest privately held U.S. nuclear technology firms entering the public market. The company plans to sell 50 million Class A shares at between $15 and $18 each, potentially raising up to $900 million in gross proceeds before underwriters' options are considered. Holtec aims to use IPO funds for corporate purposes including accelerating its SMR-300 small modular reactor licensing and deployment. The company is also working on restarting a decommissioned nuclear plant at Palisades, Michigan, with support from the U.S. Department of Energy through a $1.52 billion loan guarantee facility. Holtec has secured long-term power purchase agreements for this project, which could provide additional revenue beyond its current operations in nuclear equipment and services. Despite strong financial figures—$269.9 million in first-half 2026 revenues and net income of $205.6 million—the company's governance structure will remain heavily controlled by founder-affiliated entities post-IPO, retaining about 99% voting power through a dual-class share arrangement.
Topics: IPO nuclear energy SMR-300 reactor valuation