X-Energy Inc. has launched a public offering roadshow for an initial public offering of its Class A common stock, proposing to sell 42,857,143 shares on the Nasdaq Global Select Market under the ticker symbol XE.
The company established a price band of $16.00 to $19.00 per share for the planned offering. Based on the midpoint of that range, the IPO would generate approximately $729 million in gross proceeds. X-Energy has also granted the underwriters a 30-day option to purchase up to 6,428,571 additional shares, a provision that could increase total proceeds to about $814 million if the option is fully exercised.
Listing clearance for the company's Class A common stock on the Nasdaq Global Select Market has been obtained, subject to the official notice of issuance. The offering is being managed by a syndicate of lead joint book-running managers: J.P. Morgan, Morgan Stanley, Jefferies, and Moelis & Company.
Context and source
The details on the share count, price range, underwriter overallotment option, listing approval condition and the identities of the lead managers were disclosed in a company press release announcing the start of the IPO roadshow.
Summary takeaways
- X-Energy is offering 42,857,143 Class A shares on Nasdaq under the symbol XE.
- The price range for the IPO is $16.00 to $19.00 per share, yielding roughly $729 million at the midpoint.
- Underwriters have a 30-day option to buy up to 6,428,571 additional shares, which could raise gross proceeds to about $814 million if exercised.
- Nasdaq listing approval for the Class A shares is in place, pending official notice of issuance.
- J.P. Morgan, Morgan Stanley, Jefferies and Moelis & Company are the lead joint book-running managers.
Impacted sectors
- Energy - specifically companies involved in nuclear reactor and fuel technologies.
- Capital markets - issuance and underwriting activity tied to the offering.
- Technology - firms developing advanced nuclear-related engineering and fuel solutions.
Notes on disclosure
The information in this report was drawn from the company press release announcing the IPO roadshow launch.