American nuclear fuel developer Standard Nuclear IPO scales back by 58% plans to raise $150 million

Standard Nuclear, which produces TRISO fuel for small modular reactors across the United States, on Wednesday lowered the proposed size of its upcoming initial public offering. The company, based in Oak Ridge, Tennessee, now plans to issue 10 million shares at $15 per share, raising $150 million. Previously, the company had applied to issue 18.3 million shares at a price range of $18 to $21 per share. With the revised terms, Standard Nuclear's fundraising amount will decrease by 58% from its previous expectations, and the fully diluted market value will reach $2.7 billion.