The company sold 10 million shares at $15 apiece, a move that significantly missed its initial target of 18.25 million shares priced between $18 and $21. Despite the cut, the offering grants the firm an initial market capitalization of roughly $2.4 billion. Standard Nuclear is scheduled to begin trading on the New York Stock Exchange under the ticker STDN this Thursday.
In section Market Quotes
Standard Nuclear Debuts After Trimming IPO to $150 Million
A sharp reduction in price expectations forced Standard Nuclear to scale back its market entry, settling for a $150 million haul. The Oak Ridge-based fuel provider finalized its offering late Wednesday, slashing both the share count and the per-share value to ensure the deal reached the finish line.
.jpg)
Comments (0)
No comments yet. Be the first!