BCLP advises Terrestrial Energy Inc. in Milestone move to become first publicly traded molten salt nuclear reactor developer

A multidisciplinary BCLP team is advising client Terrestrial Energy Inc. in a transaction that will result in Terrestrial Energy becoming the  first publicly traded molten salt nuclear reactor developer.

Terrestrial Energy has entered into a business combination agreement with HCM II Acquisition Corp., a special purpose acquisition company (SPAC), pursuant to which Terrestrial Energy and the SPAC have agreed to a business combination that would make Terrestrial Energy the first publicly traded molten salt nuclear reactor developer. Terrestrial Energy is developing small modular nuclear plants using proprietary Generation IV Integral Molten Salt Reactor (IMSR) nuclear technology to supply heat and electricity to meet the growing demand from a broad range of industrial heat and power requirements, including data center operators, utilities, industrial companies and grid operators. Proceeds from the transaction will be used to accelerate commercial deployment of Terrestrial Energy's IMSR technology and to pay transaction expense. HCM II Acquisition Corp. (Nasdaq: HOND) is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

The transaction is expected to be completed during the fourth quarter of 2025, subject to customary closing conditions.

BCLP's cross-border, cross-practice deal team was led by Partners Amy Taylor Wilson, Eliot Robinson and Tyler Mark, with significant assistance from Jonathan Pruitt, Ofir Klein, Olivia Weber, James Grinde, Malik Stewart, Madison Walsh, Tori Andrew and Andréa Legette (Corporate Transactions and Public Securities); Cathryn Benedict and Jessica Edwards (Tax); Steve Evans, Meredith Silliman and Mckenna Gossrau (ERISA/Benefits); Lucinda Althauser (Intellectual Property); Patrick DePoy (Labor & Employment); Becky Nelson and Paul Barrs (Antitrust); Jennifer Kies Mammen (CFIUS and Government Contracts); Braden Shaw (Lending & Finance); Ken Achenbach and Aaron Lapniewski (Insurance); Jason Haislmaier (Data Protection/IT); Tim Cline (Real Estate); Erin Brooks and Brittainy Cavender (Environmental); David Dennison (UK employee matters); Megan Gajewski Barnhill (International Trade); and Meryl Macklin (Litigation). 

The Client Relationship Partner is Jonathan Nesher, Global Leader for Aviation, Aerospace & Defense sector.