- HCM II Acquisition Corp. (HOND, Financial) and Terrestrial Energy have filed a draft registration statement on Form S-4 with the SEC for their proposed merger.
- The merger is projected to generate $280 million in gross proceeds, with $50 million from PIPE commitments and $230 million from HCM II's trust account.
- The combined entity will trade on Nasdaq under the ticker "IMSR" upon the expected closure of the deal in Q3 or Q4 2025.
HCM II Acquisition Corp. (HOND), a special-purpose acquisition company, and Terrestrial Energy, a developer of small modular nuclear plants, announced the filing of a draft registration statement on Form S-4 with the U.S. Securities and Exchange Commission (SEC). This filing is a significant procedural step in their proposed business combination.
The merger, which was announced earlier this year, is set to create a publicly traded company focused on innovative nuclear energy solutions. The transaction is expected to generate $280 million in gross proceeds. This includes $50 million secured from PIPE commitments at $10.00 per share, and an additional $230 million from the funds held in HCM II's trust account, prior to any potential shareholder redemptions.
The capital raised will support the advancement of Terrestrial Energy's Generation IV Integral Molten Salt Reactor (IMSR) technology, which is designed to provide high-temperature, clean energy with competitive economics. The combined company, post-merger, will trade under the ticker "IMSR" on Nasdaq.
The completion of this merger is anticipated in the third or fourth quarter of 2025, pending SEC approval, stockholder approval, and other customary closing conditions. This advancement will be pivotal for Terrestrial Energy as it aims to lead innovations in nuclear technology and contribute to the decarbonization of the global energy system.
