ONE Nuclear Energy to become public through Hennessy Capital Investment VII deal

ONE Nuclear Energy and Hennessy Capital Investment VII (HVII) announced they have entered into a definitive business combination agreement that would result in ONE Nuclear becoming a public company to be listed on Nasdaq under the ticker symbol (ONEN). The transaction is expected to provide up to $210M in gross proceeds, from a combination of anticipated PIPE proceeds and up to $195M of cash held in HVII’s trust account, before accounting for potential redemptions and transaction expenses. The transaction values ONE Nuclear at a pre-money equity value of $1B. It also implies a pro-forma enterprise value of the new public company of approximately $1.1B and a pro-forma equity value of approximately $1.3B. ONE Nuclear’s existing management team will continue to lead the combined company following the completion of the transaction. ONE Nuclear shareholders will roll 100% of their equity holdings into the new public company. Additionally, ONE Nuclear’s management team, ONE Nuclear’s primary equityholders, HVII’s sponsor and certain affiliates of HVII’s sponsor have committed to customary post-closing lock-ups. The proposed transaction has been unanimously approved by the boards of directors of both HVII and ONE Nuclear. The transaction is expected to close in the first half of 2026, subject to customary closing conditions, including approval by HVII shareholders and other regulatory approvals.