Nuclear energy startup Deep Fission attempts another IPO
Nuclear energy startup Deep Fission has announced plans to go public to build underground reactors for powering AI data centers. However, this news raises questions, as the company previously announced a merger with shell company Surfside Acquisition last September. This is reported by Techcrunch.com reports .
Although Deep Fission claimed to have raised $30 million at $3 per share back then, its shares were never actually traded on the exchange. Now, the company plans a traditional IPO on the Nasdaq, aiming to raise $157 million at a price range of $24 to $26 per share, which could value the company at $1.66 billion.
There are also uncertainties regarding the company's financial status and plans. According to a new S-1 filing with the SEC, the timeline for launching the first reactor is slipping. While it was previously promised to reach a self-sustaining nuclear chain reaction by July 2026, no specific dates are provided now.
Deep Fission is facing serious financial difficulties. As of March, the company's deficit grew from $56.2 million to $88.1 million. It has warned that if this IPO is not successful, the startup could run out of funds and cease operations within the next 12 months.
