Reactor Maker Terra Innovatum to Go Public Via SPAC (Correct)

Terra Innovatum, one of several competitors seeking to develop small-scale nuclear power, is set to go public by merging with the blank-check firm GSR III Acquisition Corp.

The company has a pre-money equity valuation of $475 million in the transaction, according to a statement confirming an earlier report by Bloomberg News. The deal will provide Terra Innovatum with up to $230 million in gross proceeds as it seeks US Nuclear Regulatory Commission approval to deploy its reactor design commercially by 2028.

Facing a frozen IPO market, merging with a SPAC was the fastest and easiest route to public trading, ...