Holtec Nuclear Corp, a U.S.-headquartered clean‑energy technology firm focused on nuclear power generation and long‑duration energy storage, announced on Thursday that it is postponing its planned U.S. initial public offering. The company cited prevailing market conditions as the reason for the delay and said it will continue to evaluate the timing of the offering in the future. The IPO had been expected to price on Thursday and was intended to raise as much as $900 million by offering 50 million shares at a price range of $15 to $18 per share.
Holtec is developing the SMR‑300 small modular reactor and expects the first two units to be deployed at its Palisades site in Michigan. In addition, the firm is working to recommission the Palisades nuclear plant, which it says would become the first commercial nuclear reactor in the United States to be repowered after a permanent shutdown; Holtec is the Nuclear Regulatory Commission‑authorized operator of the plant.
The postponement occurs amid heightened investor interest in nuclear power, driven in part by expectations that artificial‑intelligence data centers will increase electricity demand. However, recent nuclear‑focused IPOs have struggled in the public markets: Bloomberg reported that Standard Nuclear closed 21% below its IPO price, while X‑Energy was 37% below its April IPO price.
Financially, Holtec reported net income of $205.6 million on revenue of $269.9 million for the six months ended June 30, compared with net income of $139.1 million and revenue of $286.6 million for the same period a year earlier.
The planned offering was being led by JPMorgan, Guggenheim Securities, Goldman Sachs, Citigroup and Bank of America.