Deep Fission Files for Nasdaq IPO Seeking Up to $157 Million

Deep Fission filed an S-1 registration statement on May 20 for a Nasdaq IPO that could raise up to $157 million at a price range of $24 to $26 per share. 66 billion. The company plans to use the proceeds to develop underground nuclear reactors intended to supply power to AI data centers.

It previously completed a reverse merger with Surfside Acquisition in September that raised $30 million but did not result in active public trading of its shares.

2 million in December. 4 million, or about 7 percent, in the most recent six-week period. The S-1 repeats a going-concern warning stating that the company could exhaust its cash within 12 months if the IPO is not completed.

The company began drilling the first of three test wells in March. The wells are eight inches in diameter and will reach depths of up to 6,000 feet to collect geological data. Deep Fission has not provided a revised date for achieving criticality after previously targeting July 2026.

It stated that commercial-scale boreholes would need to be 30 to 50 inches in diameter and approximately one mile deep. The company received an $80 million equity investment that included $20 million from data center developer Blue Owl, which also signed a non-binding memorandum of understanding for future power supply.