Terrestrial Energy received in excess of $292 million of gross transaction proceeds, before expenses, to support its business plan and accelerate technology commercialization
Terrestrial Energy's Integral Molten Salt Reactor (IMSR) nuclear plants are designed to supply low-cost high-temperature, clean, firm and flexible heat and electricity, delivering sector-leading economics and time-to-market at fleet scale
CHARLOTTE, N.C., Oct. 29, 2025 (GLOBE NEWSWIRE) -- Terrestrial Energy Inc. (NASDAQ:IMSR) ("Terrestrial Energy" or the "Company"), a developer of small modular nuclear plants using advanced reactor technology, announced that it will begin trading on the Nasdaq Stock Market LLC ("Nasdaq") under the new ticker symbol "IMSR" at market open today, following the completion of its business combination with HCM II Acquisition Corp. ("HCM II") (the "transaction") on October 28, 2025.
As a result of the business combination, Terrestrial Energy has received in excess of $292 million in gross proceeds before expenses, including $50 million from a common stock PIPE from new non-affiliated fundamental institutional investors, and approximately $242 million of cash from HCM II's trust account before expenses, reflecting redemptions of less than 1% of HCM II shares.
Simon Irish, CEO of Terrestrial Energy, commented, "Our Nasdaq listing is more than a milestone, it's public market validation of the urgent need today for transformative nuclear energy supply capable for meeting rapidly growing and changing energy demand. This requires new technology and design approaches to nuclear energy supply. Our 390 MW small and modular nuclear plant uses our IMSR technology, a Generation IV nuclear technology, to deliver with high capital efficiency, low-cost industrial heat and electric power, and it does so reliably, cleanly and with standard nuclear fuel. These are energy solutions the world desperately needs to meet the enormous energy demands from secular industrial innovation cycles happening today in other sectors.
Terrestrial Energy's long established design process is now deeply informed by multiple regulatory engagements, supplier capabilities, leading national laboratory and industrial strategic partnerships, and industrial energy consumers. This provides a transparent pathway to deliver IMSR plants at fleet scale. With this public capital validation, this transaction accelerates our plans to deliver clean, affordable and reliable nuclear energy beyond traditional electric power markets, serving critical applications from data centers to industrial processes. This is just the beginning of our story to deploy our IMSR plants at scale in the global energy system."
Terrestrial Energy is a developer of proprietary Generation IV Integral Molten Salt Reactor (IMSR) nuclear plants which capture the transformative operating benefits of molten salt reactor technology in a small modular plant design, representing true innovation in capital efficiency, affordability, and versatility of nuclear energy supply. The company's IMSR plant design, consisting of two ...
