Berkeley, Calif.-based Deep Fission launched its initial public offering (IPO) on May 20, saying in a press release it expected the initial IPO price to be between $24 and $26 per share.
The nuclear company is targeting a valuation of nearly $1.6 billion, according to an article by Reuters.
Deep Fission began the roadshow for its proposed underwritten public offering of 6 million shares of its common stock.
Additionally, Deep Fission plans to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock at the IPO price, less underwriting discounts and commissions.
Deep Fission has applied to list its common stock on the NASDAQ Global Market under the ticker symbol “FISN”. The net proceeds of the public offering are intended to be used for general working capital and corporate purposes,
In September 2025, the company completed a go-public reverse merger transaction with Surfside Acquisition, Inc. However, that deal only made the company public in name, and it never traded stock then.
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 1.5 gigawatts or 1,500 megawatts at one site, Deep Fission said.
Additionally, Deep Fission is one of the 10 companies selected under the Department of Energy’s reactor pilot program. The company has already broken ground and ground preparations are now underway for its pilot Gravity reactor at Great Plains Industrial Park in Parsons, Kan.
Deep Fission was founded in 2023 by the father-daughter team of Elizabeth Muller and Rich Muller. Elizabeth Muller serves as the CEO, while her father serves as the chief technical officer. In 2016 the Mullers also founded Deep Isolation, a company focused on commercializing deep borehole technology for underground nuclear waste disposal .