US-based small modular reactor (SMR) developer Terrestrial Energy has merged with an acquisition company in a deal that will result in it becoming a public company to be listed on Nasdaq.
The North Carolina-based company said expects to net $280m (€260m) from the special purpose acquisition company (Spac) deal with HCM II Acquisition Corp.
A Spac, or blank-cheque company, is a shell company that goes public through an initial public offering (IPO) with the sole purpose of acquiring a private company, effectively taking it public without a traditional IPO.
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