NewHold SPAC jumps on deal to take nuclear startup Newcleo public

NewHold Investment III

27/05/2026 17:24

** Shares of NewHold Investment Corp III NHIC.O jump >5% on Weds on news the special-purpose acquisition co (SPAC) to take nuclear power startup Newcleo public following reverse merger
** NHIC shares rise as high as $11.25, highest since the SPAC's inception, and last up 3.7% at $11.10
** The merger will value the co at $2.4 bln and is expected to provide up to $429 mln in gross proceeds; combined firm expected to list on the Nasdaq under the ticker "NWCL" following anticipated transaction close in H2 2026
** Newcleo, founded by Italian physicist Stefano Buono, developing advanced modular lead-cooled fast reactors and nuclear fuel from reprocessed nuclear material
** It will work with Sam Altman-backed Oklo OKLO.O on program launched by U.S. Department of Energy to explore potential use of the country's Cold War-era plutonium as nuclear reactor fuel
** NHIC went public in late Feb 2025 after $175 mln IPO at $10
** More than 3 mln NHIC shares have exchanged hands on the session vs their 10-DMA volume of around 12,000 shares, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))