Standard Nuclear is a publicly traded company after announcing its initial public offering (IPO) late last week.
The company started trading on the New York Stock Exchange under the ticker symbol “STDN” on July 16 and closed the offering the next day, according to a press release. The Oak Ridge, Tenn.-based advanced nuclear fuel manufacturer announced its IPO of 10 million shares of its Class A common stock at a public offering price of $15.
Standard Nuclear’s IPO was previously expected to be priced between $18 to $21 per share. Multiple news outlets reported the company’s initial valuation was listed around $3.5 billion, but at $15 per share, Standard Nuclear’s is closer to $2 billion.
Despite the downsized IPO, Standard Nuclear CEO Kurt Terrani said in a July 16 interview with CNBC that the end result was a “great outcome”. He said that becoming a public company was an integral part of Standard Nuclear’s long-term strategy.
“We are in a very unique position and a very fortunate position,” Terrani said in the interview. “We’re not saying we need four to five years, we need capital to go build our basic technology and deliver. We’re manufacturing today, we got customers today, we’re delivering today.”
Standard Nuclear, founded in 2024, is a company that makes advanced nuclear fuel with its main focus being on tri-structural isotropic – or TRISO fuel. It was the first company selected by the Department of Energy last August for its nuclear fuel line pilot program. The company was also selected to receive high-assay low-enriched uranium (HALEU) through DOE’s HALEU Availability Program. It received HALEU feedstock from DOE, which the shipment was managed by DOE’s National Nuclear Security Administration and its prime contractor, Consolidated Nuclear Security, in January.
Standard Nuclear has entered into multiple agreements with other advanced nuclear companies, such as Oklo and Framatome, to focus on manufacturing advanced nuclear fuels.
Standard Nuclear is the latest nuclear company to go public. It follows Deep Fission and X-Energy. Last week, Holtec International filed a Form S-1 with the Securities and Exchange Commission, beginning its process to become a public company as well.