Holtec Nuclear seeks $900M in US IPO to meet surging power demand

A New Jersey nuclear company wants nearly a billion dollars from public markets, and it’s betting the pitch is simple: AI needs electricity, and reactors don’t emit carbon. Holtec Nuclear Corp. has filed an amended S-1 with the SEC to raise up to $900 million through a US initial public offering. The company plans to offer roughly 50 million shares priced between $15 and $18 each, which would value the firm at approximately $10.2B at the top of that range. The nuclear bet on data center power The offering is being led by J.P. Morgan, Goldman Sachs, and Citigroup. Shares are expected to trade on Nasdaq under the ticker HNUC. The company reported net income of $453.89 million on $559.92 million in revenue for the fiscal year ending June 30, 2026. That’s an eye-popping profit margin north of 80%, driven largely by its legacy businesses in spent fuel storage, transportation casks, and nuclear plant decommissioning. Holtec holds a dominant share of the US spent-fuel storage market. It’s been quietly essential to the nuclear industry since Dr. Krishna P. Singh founded the company back in 1986. Palisades: the restart heard round the industry The centerpiece of Holtec’s growth narrative is...