Holtec Nuclear Targets Up to $900 Million in Initial Public Offering

Holtec Nuclear Corporation has initiated the roadshow for its initial public offering, aiming to raise up to $900 million based on the top end of its proposed price range. The company announced in a press release that it plans to offer 50 million shares of its Class A common stock.

Offering Details

According to the company's filing, the IPO price is expected to be between $15.00 and $18.00 per share. At this range, the offering could generate gross proceeds of $750 million to $900 million. Holtec also intends to list its stock on the Nasdaq Global Select Stock Market and Nasdaq Texas, Inc. under the ticker symbol HNUC.

Additionally, Holtec plans to grant the underwriters a 30-day option to purchase up to an additional 7.5 million shares of Class A common stock. If this over-allotment option is fully exercised at the high end of the price range, it could add another $135 million to the total amount raised.

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Underwriters and Regulatory Status

A consortium of major investment banks is managing the offering. J.P. Morgan, Guggenheim Securities, Goldman Sachs & Co. LLC, Citigroup, and BofA Securities are serving as joint book-running managers and representatives for the underwriters.

Other joint book-running managers include Morgan Stanley, Cantor, BMO Capital Markets, and Oppenheimer & Co. Holtec noted that a registration statement on Form S-1 has been filed with the U.S. Securities and Exchange Commission (SEC), but it has not yet become effective. The shares cannot be sold, nor can offers to buy be accepted, until the registration statement is declared effective by the SEC.