Berkeley, Calif.-based Deep Fission last week became a publicly listed company on the NASDAQ Global Select Market, the company said in a press release.
The underground small modular reactor (SMR) developer will trade under the ticker symbol of FISN. Deep Fission said June 17 that the $16 per share pricing of its public offering should yield total gross proceeds of $40 million from 2.5 million shares of its common stock.
The company started trading on June 18 and anticipated the offering to close on Monday, June 22 subject to the satisfaction of customary closing conditions.
Additionally, Deep Fission has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions, according to the release.
Deep Fission plans to use the net proceeds from this offering on general working capital and corporate purposes, such as engineering, construction and licensing of its pilot Gravity reactor and related technologies.
Deep Fission went public after holding its initial public offering (IPO) in May, where it expected its IPO price to be between $24 and $26.
Deep Fission is developing its Gravity reactor. The company’s reactor technology is a pressurized water small modular reactor that will generate 15 megawatts. With a small footprint and dense power output, 10 of its reactors could produce 150 megawatts, while 100 reactors could deliver 1,500 megawatts at one site, Deep Fission said.
Deep Fission is also one of the 10 companies selected under the Department of Energy’s advanced reactor pilot program. The company has already broken ground and has prepatory work underway for its pilot Gravity reactor at Great Plains Industrial Park in Parsons, Kan.