Newcleo to Go Public in US Through SPAC Merger With NewHold Investment

[출처/시간] MT Newswires - 8:02 AM ET, 05/27/2026

08:02 AM EDT, 05/27/2026 (MT Newswires) -- Newcleo and NewHold Investment Corp III (NHIC) have entered into a definitive merger agreement that would result in Newcleo becoming a publicly traded company on the Nasdaq under the ticker symbol, "NWCL," Newcleo said Wednesday.

The transaction values the nuclear energy firm at a pre-money equity valuation of about $2.4 billion and is expected to generate up to $429 million in gross proceeds, including $220 million in private investment in public equity, or PIPE, proceeds and up to $209 million held in NewHold's trust account.

The oversubscribed PIPE is committed at $10 per share and includes the issuance of 22 million ordinary shares. Certain trust shareholders also entered into non-redemption agreements, Newcleo said.

As part of the agreement, each class A share of NewHold that has not been redeemed for cash will convert to an ordinary share of Newcleo on a one-for-one basis, the company said.

The combined entity will be led by Newcleo's existing management team.

The deal is expected to close in the second half of this year.

Newcleo said remaining cash on the balance sheet at closing is expected to be used for working capital, growth and general corporate purposes.

Shares of NewHold Investment Corp III were up more than 3% in Wednesday pre-bell activity.