Standard Nuclear, a nuclear fuel company based in Oak Ridge, Tennessee, has slashed its target for its US initial public offering (IPO) by more than 50%.
The company is now planning to sell 10 million shares at $15 each, down from its previous target of 18.25 million shares at $18 to $21 each. At the new price, Standard Nuclear would be valued at about $2.4 billion, compared to its previous target of $3.55 billion.
Nuclear Fuel Production
Standard Nuclear produces advanced nuclear fuel for advanced nuclear reactors, including small modular reactors and microreactors, with a focus on scaling up domestic capacity to bolster US energy security.
BofA Securities and Goldman Sachs are acting as the joint lead bookrunning managers for the offering. Standard Nuclear is expected to price its IPO later and begin trading on the New York Stock Exchange on Thursday.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
