MergerMay 28, 2026, 06:08 AM
NewHold to Merge with Newcleo in $2.4B SPAC Deal
AI Summary
NewHold Investment Corp. III (NHIC) has announced a definitive business combination agreement with Newcleo Ltd., a nuclear energy company developing advanced modular, lead-cooled fast reactors and mixed oxide nuclear fuel. The transaction values Newcleo at approximately $2.4 billion pre-money equity and is projected to yield up to $429 million in gross proceeds, including a $220 million PIPE. The combined entity is expected to trade on Nasdaq under the ticker "NWCL" following an anticipated closing in the second half of 2026.
Key Highlights
- NewHold Investment Corp. III announced a business combination with Newcleo Ltd.
- Newcleo is valued at approximately $2.4 billion pre-money equity.
- The transaction is expected to provide up to $429 million in gross proceeds.
- An oversubscribed PIPE is committed at $220 million, issuing 22 million ordinary shares at $10.00 per share.
- The combined company is expected to be listed on Nasdaq under the ticker symbol "NWCL".
- The transaction is anticipated to close in the second half of 2026.
Price Impact
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