Holtec Nuclear Postpones $900 Million U.S. IPO

Holtec Nuclear Corp. (NASDAQ: HNUC) has postponed its planned U.S. initial public offering, citing unfavorable market conditions as recently listed nuclear-energy companies face pressure in public markets.

The Camden, New Jersey-based nuclear technology company announced Thursday that it will continue evaluating when to proceed with the IPO. The offering had been scheduled to price on Thursday.

Holtec Nuclear was seeking to raise up to $900 million through the sale of 50 million shares priced between $15 and $18 each. JPMorgan, Guggenheim Securities, Goldman Sachs, Citigroup and Bank of America were leading the proposed offering.

The company specializes in clean-energy technology, with operations focused on nuclear power generation and long-duration energy storage. One of its key projects is the SMR-300 small modular reactor, with Holtec planning to deploy the first two units at its Palisades site in Michigan.

Holtec is also working to restart the Palisades nuclear power plant. The company says the project would mark the first time a commercial U.S. nuclear reactor has returned to operation after being permanently shut down. Holtec is authorized by the Nuclear Regulatory Commission to operate the facility.

The IPO delay comes despite growing investor interest in nuclear energy, partly driven by expectations that artificial intelligence data centers will significantly increase electricity demand.

However, the performance of recently listed nuclear companies highlights the challenges facing the sector. Standard Nuclear closed Wednesday about 21% below its IPO price, while X-Energy was trading approximately 37% below its April offering price, according to Bloomberg.

Holtec's financial results showed higher profitability despite lower revenue. The company reported net income of $205.6 million on revenue of $269.9 million for the six months ended June 30. That compared with net income of $139.1 million on $286.6 million in revenue during the same period a year earlier.

Holtec has not announced a new date for its IPO, leaving the timing dependent on future market conditions and investor appetite for nuclear-energy stocks.