HOND News & Events

Terrestrial Energy will begin trading on the Nasdaq Stock Market under the new ticker symbol "IMSR" at market open, following the completion of its business combination with HCM II Acquisition Corp. (HOND) on October 28. As a result of the business combination, Terrestrial Energy has received in excess of $292 million in gross proceeds before expenses, including $50M from a common stock PIPE from new non-affiliated fundamental institutional investors, and approximately $242M of cash from HCM II's trust account before expenses, reflecting redemptions of less than 1% of HCM II shares.

HCM II Acquisition Corp. announced that in an extraordinary general meeting held Monday, HCM II shareholders voted to approve the previously announced business combination with Terrestrial Energy Inc., a developer of small modular Generation IV nuclear plants that use its proprietary Integral Molten Salt Reactor technology. A Form 8-K disclosing the full voting results is expected to be filed with the Securities and Exchange Commission. The closing of the business combination is expected to occur on or about Monday, October 27, 2025, subject to the satisfaction or waiver of all closing conditions, with trading commencing on the Nasdaq Stock Market LLC on Tuesday, October 28, 2025. Upon closing of the transaction, the combined company will be known as Terrestrial Energy Inc. and its securities will be listed on Nasdaq under the symbols "IMSR" and "IMSRW", respectively.

The U.S. Department of Energy announced that it has selected Oklo (OKLO), Terrestrial Energy (HOND), TRISO-X LLC, and Valar Atomics Inc. for its new pilot program to build advanced nuclear fuel lines. The action will help strengthen America's national security, reduce reliance on foreign sources of enriched uranium and support the Department's Reactor Pilot Program that aims to have at least three reactors achieve criticality by July 4, 2026, the department said. "President Trump has made clear that a strong nuclear sector is a central component of America's energy security and prosperity," said Deputy Secretary of Energy James P. Danly. "Restoring a secure domestic fuel supply will ensure that advanced reactors can move quickly from design to deployment and into operation. The ability to produce these fuels is essential to ensuring American leadership in nuclear energy and to meeting the nation's growing demand for reliable power." This is the second round of conditional selections under DOE's Fuel Line Pilot Program. DOE previously selected Standard Nuclear to build and operate TRISO fuel fabrication facilities.