Amazon-Backed X-energy Eyes $814M IPO at $16–$19 Per Share
X-energy, backed by Amazon, set its IPO price range at $16–$19 per share to raise up to $814.3M, following Amazon’s $500M Series C-1 investment and 5GW nuclear power purchase pledge by 2039. The startup expects to cut reactor production costs by 30% after scaling to Nth-of-a-kind manufacturing.
1. IPO Details
X-energy launched its IPO roadshow targeting a $16–$19 per share price range to raise up to $814.3M, marking its first public offering after a canceled SPAC merger. The filing highlights a potential net raise of $814M if priced at the top end of the range.
2. Amazon Backing
Amazon led a $500M Series C-1 funding round for X-energy and has committed to purchasing up to 5GW of nuclear power by 2039, underscoring its long-term energy supply strategy. Overall investor commitments in X-energy total approximately $1.8B.
3. Reactor Technology and Cost Outlook
X-energy’s high-temperature gas-cooled reactor uses TRISO-encased uranium spheres cooled by helium to drive steam turbines, offering enhanced safety. Management projects a 30% reduction in production costs once the technology achieves Nth-of-a-kind manufacturing scale.