Nuclear startup Deep Fission is making headlines again as it aims to raise $157 million through a new public offering on Nasdaq, pricing shares between $24 and $26. This move comes just months after a prior attempt to go public via a reverse merger with Surfside Acquisition, which ultimately did not result in trading for the company’s stock.
Deep Fission's previous merger was completed, making it a reporting entity with SEC obligations, yet its shares were never made available for trading, as confirmed by a lack of results in searches for the company on OTCQB. Despite the initial optimism for a critical reactor launch by July 2026, the company has since refrained from providing updates on timelines in its latest S-1 filing dated May 20.
The company faces significant financial challenges, with its deficit rising to $88.1 million, compared to $56 million earlier in the year. A “going concern” warning remains, indicating that without completing the IPO, Deep Fission may face liquidity issues within the next year. The firm is currently engaged in drilling a test well as part of its operations.