Nuclear Developer Terrestrial Energy to Go Public Via SPAC (1)

A developer of small nuclear reactors is going public via a special purpose acquisition company led by former Cantor Fitzgerald Chief Executive Officer Shawn Matthews.

Terrestrial Energy Inc. has an equity value of $925 million in the deal with blank-check firm HCM II Acquisition Corp., with the combined entity valued at about $1 billion including debt, according to a statement reviewed by Bloomberg News.

The transaction will provide Terrestrial with $280 million in gross proceeds, including the $230 million from the blank-check trust account and an additional $50 million from a private investment in public equity, or PIPE, ...