ONE Nuclear Energy Inc. has completed a business combination with Hennessy Capital Investment Corp. VII (HVII), resulting in the company becoming a publicly traded entity on the Nasdaq Capital Market under the ticker symbol "ONEN." The transaction, finalized on September 23, 2026, involved the domestication of HVII from the Cayman Islands to Delaware and a merger with ONE Nuclear Energy, LLC.
As part of the closing, HVII was renamed ONE Nuclear Energy Inc. The company reported that 13,809,029 public shares were redeemed prior to the closing, resulting in a redemption price of approximately $10.61 per share and approximately $146.5 million in aggregate redemptions. Following these redemptions and the issuance of shares to ONE Nuclear members, approximately 108.3 million shares of common stock were issued and outstanding.
The consideration paid to ONE Nuclear members totaled 94,253,842 shares of common stock, calculated based on a formula involving the company's trust account. Additionally, the members are eligible to receive up to 13.0 million additional shares as contingent consideration, subject to specific share price milestones.
The company also entered into a registration rights agreement requiring the filing of a registration statement with the SEC within 30 days of the closing. Furthermore, certain shareholders have agreed to lock-up restrictions on their shares for a period ending on the earliest of six months from the closing or a date when the stock price reaches $11.00 per share for 20 trading days.
Separately, unaudited financial statements for ONE Nuclear Energy LLC, the target company, show a net loss of $1.8 million for the six months ended June 30, 2026, and a working capital deficit of approximately $2.74 million. The company has identified substantial doubt about its ability to continue as a going concern through twelve months from the date of the financial statements.
