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Nuclear startup Deep Fission goes public in a curious SPAC
Deep Fission had been seeking to raise $15 million in a seed round as recently as April. The reverse merger will raise twice that amount.
Earlier this year, Deep Fission inked a deal with data center developer Endeavor to build 2 gigawatts of underground reactors. The circumstances around the SPAC — the share price, the selected equity market, and the timing of the transaction — suggest that Deep Fission wasn’t able to raise cash from new or existing shareholders, who first capitalized the company with a $4 million check last year. The proceeds of the merger give the startup a bit more runway than its ill-fated seed round would have, but it also imposes SEC reporting costs for what is likely a small company operating in a very expensive sector.
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