July 7 (Reuters) - Standard Nuclear is targeting a valuation of up to $3.55 billion in its U.S. initial public offering, as investors increasingly favor energy companies on expectations of rising power demand from the rapid expansion of AI.
The Oak Ridge, Tennessee-based nuclear fuel company said on Tuesday it aims to raise up to $383.25 million in the IPO by offering 18.25 million shares priced between $18 and $21 each.
The IPO market is regaining momentum as easing geopolitical tensions, resilient
equity markets and strong investor demand encourage companies to proceed with their listing plans.
Energy-related IPOs are also benefiting as the Trump administration pushes to quadruple U.S. nuclear power capacity by 2050 to meet growing electricity demand from AI-driven data centers.
Nuclear reactor developer X-Energy made a stellar debut in April after raising $1.02 billion in its IPO. Deep Fission also went public last month.
Standard Nuclear produces advanced nuclear fuel for advanced nuclear reactors, including small modular reactors and microreactors, with a focus on scaling up domestic capacity to bolster U.S. energy security.
The company reported a 57% increase in revenue to $593,802 for the quarter ended March 31, it disclosed in its IPO filing.
Founder Thomas Hendrix will control about 59.5% of the company's voting power through his class B shares, after the offering.
Standard Nuclear plans to use the IPO proceeds to meet working capital requirements, general corporate purposes and potential acquisitions or investments in complementary businesses, technologies or assets.
The company intends to list on the New York Stock Exchange under the ticker symbol "STDN". BofA Securities, Goldman Sachs, Barclays and UBS Investment Bank are among the underwriters for the offering.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shilpi Majumdar)
