SoFi CEO enters prepaid forward contract on 1.5 million shares
CHARLOTTE/STAMFORD - HCM II Acquisition Corp. (NASDAQ:HOND) and Terrestrial Energy Inc. announced today they have filed a draft registration statement on Form S-4 with the SEC for their previously announced business combination. HCM II, currently valued at $322 million, has seen its shares trade at $11.20, delivering an 11.78% return year-to-date according to InvestingPro data.
The filing contains a preliminary proxy statement/prospectus related to the merger agreement signed on March 26, 2025. Following the transaction’s completion, the combined company plans to list on Nasdaq under the ticker symbol "IMSR."
The deal is expected to provide approximately $280 million in gross proceeds, including $50 million in PIPE commitments from institutional investors at $10.00 per share and about $230 million from HCM II’s trust account, subject to potential redemptions. InvestingPro analysis shows HCM II maintains a healthy financial position with a current ratio of 1.79, indicating strong liquidity to meet its short-term obligations.
Terrestrial Energy is developing small modular nuclear plants using its proprietary Generation IV Integral Molten Salt Reactor (IMSR) technology. The company aims to supply high-temperature clean energy for both electricity generation and industrial applications.
Proceeds from the transaction will fund the acceleration of commercial deployment of Terrestrial Energy’s IMSR technology and cover transaction expenses.
The business combination remains subject to approval by HCM II stockholders, SEC effectiveness declaration for the registration statement, and other customary closing conditions. The companies expect to complete the transaction in the third or fourth quarter of 2025.
HCM II is led by Chairman and CEO Shawn Matthews and President and CFO Steven Bischoff. The SPAC’s shares and warrants currently trade on Nasdaq under the symbols "HOND" and "HONDW," respectively. With the stock trading near its 52-week high and showing strong momentum, investors seeking deeper insights can access additional financial metrics and exclusive analysis through InvestingPro, which currently maintains a GOOD overall financial health rating for the company.
This article is based on information provided in a company press release statement.
In other recent news, Terrestrial Energy Inc. is preparing for its transition to a publicly listed company with strategic leadership appointments. The company announced that Brian Thrasher will take on the role of Chief Financial Officer and Brian Romanzo will serve as General Counsel and Corporate Secretary, effective May 20, 2025. These appointments aim to strengthen Terrestrial Energy’s executive team with significant expertise in financial strategy and legal compliance. The company is positioning itself to benefit from growing interest in nuclear technology, particularly following a U.S. executive order to advance such technology. Additionally, Terrestrial Energy has entered a definitive Business Combination Agreement with HCM II Acquisition Corp., paving the way for its listing on the Nasdaq Stock Market. This move is part of the company’s broader strategy to scale operations and meet increasing demand for nuclear energy. The expertise of Thrasher and Romanzo will be crucial as the company navigates the complexities of becoming a publicly traded entity. These developments highlight Terrestrial Energy’s commitment to advancing its nuclear technology and achieving its business goals.
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