American nuclear fuel developer Standard Nuclear (STDN.US) IPO priced at $18-21 per share, aiming to raise $383 million.

Standard Nuclear, which produces TRISO fuel for small modular reactors (SMRs) across the United States, announced on Tuesday that the company plans to issue 18.25 million shares of stock in its initial public offering (IPO), with a price range of $18 to $21 per share, raising up to $383 million. The company's target valuation in this IPO could reach as high as $3.53 billion. The company plans to list on the New York Stock Exchange under the ticker symbol "STDN". Standard Nuclear, headquartered in Oak Ridge, Tennessee, was founded in 2024. The company focuses on the design, engineering development, and manufacturing of TRISO fuel (tristructural isotropic coated particle fuel), with an emphasis on expanding domestic manufacturing capabilities to enhance U.S. energy security. TRISO fuel is an advanced nuclear fuel widely used in small modular reactors and microreactors. The company operates the only industrial-scale production line specifically for TRISO fuel in the United States, which was acquired through bankruptcy auction from Ultra Safe Nuclear in 2024. In January 2026, Standard Nuclear became the first company authorized by the U.S. Department of Energy to receive and use High-Assay Low-Enriched Uranium (HALEU) for manufacturing TRISO fuel. The company's revenue primarily comes from fuel development agreements with commercial customers and U.S. government agencies. As of now, its total contract backlog amounts to up to $245 million. Data shows that the company achieved revenue of $3 million in the 12 months ending March 31, 2026.