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Terrestrial Energy (Nasdaq: IMSR) began trading on Nasdaq on October 29, 2025 after completing its business combination with HCM II on October 28, 2025. The company received in excess of $292 million in gross proceeds before expenses, including a $50 million common stock PIPE and approximately $242 million from HCM II's trust account following redemptions of less than 1%.
Terrestrial Energy develops Generation IV Integral Molten Salt Reactor (IMSR) small modular plants; its two-reactor plant design totals 822 MWth / 390 MWe. The company cites access to Standard-Assay Low Enriched Uranium (SALEU <5% U-235), multiple regulatory engagements, DOE program participation, and partnerships with Westinghouse, Siemens, Texas A&M, and several U.S. national labs to support commercialization and fleet-scale deployment.
Terrestrial Energy (Nasdaq: IMSR / IMSRW) completed its business combination with HCM II and will begin Nasdaq trading on October 29, 2025. The transaction generated gross proceeds exceeding $292 million before expenses, including a $50 million common-stock PIPE and redemptions of less than 1%. Proceeds are intended to accelerate commercial deployment of the company’s Integral Molten Salt Reactor (IMSR), a dual‑unit 822 MWth / 390 MWe small modular plant designed for high‑temperature industrial heat and electricity. The company cited DOE pilot program selections, a Texas A&M siting partnership, and multiple strategic industry partners to support commercialization.
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