MergerMay 27, 2026, 09:12 AM
NewHold Investment Corp. III to Merge with Newcleo in $2.4B Deal
AI Summary
NewHold Investment Corp. III has entered into a definitive Business Combination Agreement with Newcleo Ltd., a developer of advanced nuclear reactors and nuclear fuel. The transaction values Newcleo at a pre-money equity value of approximately $2.4 billion and is expected to provide up to $429 million in gross proceeds, including a $220 million PIPE. The combined company will be listed on Nasdaq under the ticker symbol "NWCL" following an anticipated transaction close in the second half of 2026.
Key Highlights
- NewHold Investment Corp. III entered a Business Combination Agreement with Newcleo Ltd. on May 26, 2026.
- The transaction values Newcleo at a pre-money equity value of approximately $2.4 billion.
- The deal is expected to provide up to $429 million in gross proceeds to Newcleo.
- This includes $220 million from an oversubscribed PIPE at $10.00 per share, anchored by new strategic and institutional investors.
- Newcleo, a developer of advanced modular, lead-cooled fast reactors (LFRs) and MOX nuclear fuel, generated approximately $80 million in revenue in 2024.
- Newcleo has raised approximately $780 million in private funds since its founding in 2021.
- The combined company is expected to be listed on Nasdaq under the ticker symbol "NWCL" in the second half of 2026.
- Newcleo has a strategic partnership with Oklo Inc. to build advanced nuclear fuel manufacturing infrastructure.
Price Impact
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