Oak Ridge, Tenn.-based Standard Nuclear proposed its initial public offering (IPO) Tuesday just weeks after the company filed its IPO with the Securities and Exchange Commission (SEC) in mid-June.
The advanced nuclear fuel company Standard Nuclear said in a Tuesday press release it is launching its “roadshow” for its proposed IPO of 18.25 million shares of its Class A common stock. The IPO is expected to range between $18 to $21 per share.
Standard Nuclear applied to trade on the New York Stock Exchange under the ticker symbol “STDN.” The company is targeting a valuation up to $3.5 billion, according to a Tuesday Reuters article.
BofA Securities and Goldman Sachs & Company are the joint lead bookrunning managers for the offering, while Barclays, Evercore ISI, RBC Capital Markets, Stifel, UBS Investment Bank and William Blair are additional bookrunning managers for it.
A registration statement on Form S-1 in relation to the proposed offering of the securities has already been filed with the SEC, the company said. However, it has not been declared effective yet.
Standard Nuclear, founded in 2024, manufactures advanced nuclear fuel with its main focus being on tri-structural isotropic – or TRISO fuel. It was the first company selected under the Department of Energy’s nuclear fuel line pilot program, an initiative focused on bolstering the domestic supply chain, last year.
Additionally, the company was selected to receive high-assay low-enriched uranium (HALEU) by DOE under the HALEU Availability Program. It received HALEU feedstock from DOE, which the shipment was under management provided by the National Nuclear Security Administration and its prime contractor, Consolidated Nuclear Services, in January. It said it is the first company to receive both authorization by DOE and physically receive HALEU to produce TRISO fuel.