Nuclear Power Startup Newcleo Plans Public Listing via Blank-Check Merger

The transaction values the combined entity at about $2.4 billion.

The merger will allow Newcleo to list its shares on a public exchange without a traditional initial public offering. Blank-check companies, also known as special purpose acquisition companies, raise capital through their own public listings and then seek operating businesses to acquire.

develops small modular reactors that use recycled nuclear fuel. The company has raised private funding since its founding and operates research facilities in Europe. The planned merger remains subject to regulatory approvals and shareholder votes.