Standard Nuclear slides in New York debut after scaled-back IPO as sector sentiment wanes
STDN•Business focus and offering advisers
Oak Ridge, Tennessee-based Standard Nuclear focuses on processing enriched uranium feedstock into advanced nuclear fuel for advanced nuclear reactors.
BofA Securities and Goldman Sachs acted as joint lead bookrunning managers for the offering.
Standard Nuclear falls in NYSE debut
Standard Nuclear's shares slid 11% in their NYSE debut after a $150 million scaled-back US IPO.
The stock opened at $13.50 apiece versus the $15 IPO price and was last down at $13.25.
IPO was cut sharply as nuclear stocks weaken
The early-stage nuclear fuel company sold 10 million shares at $15 apiece in the IPO after slashing the deal size by more than half.
The debut comes as nuclear stocks such as Oklo and NuScale Power have struggled in recent weeks. Nuclear-sector companies that listed recently, including reactor developers X-Energy and Deep Fission, are also trading below their IPO price.
