Terrestrial Energy, HCM II Acquisition file draft registration statement

HCM II Acquisition (HOND) and Terrestrial Energy announced the filing of the draft registration statement on Form S-4 with the U.S. Securities and Exchange Commission. The Registration Statement contains a preliminary proxy statement/prospectus in connection with the previously announced proposed business combination. While the Registration Statement has not yet become effective and the information therein is subject to change, it provides important information about HCM II and Terrestrial Energy, as well as the proposed business combination. HCM II entered into a proposed business combination agreement with Terrestrial Energy on March 26, pursuant to which, following consummation of the business combination contemplated therein, the combined company will be listed on the Nasdaq under the ticker symbol “IMSR”. Completion of the transaction is subject to approval by HCM II’s stockholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. Terrestrial Energy Inc. is developing a small modular nuclear plant using proprietary Generation IV Integral Molten Salt Reactor nuclear technology. Terrestrial Energy’s IMSR plant will supply high-temperature, clean, firm and flexible heat and electricity, with sector-competitive economics and leading time-to-market at fleet scale. The Transaction will provide approximately $280 million in gross proceeds consisting of $50M in common stock PIPE commitments at $10.00 per share from new non-affiliated fundamental institutional investors, and approximately $230M of cash held in HCM II’s trust account before potential redemptions. Proceeds will be used to accelerate commercial deployment of Terrestrial Energy’s IMSR technology and to pay transaction expenses. HCM II and Terrestrial Energy expect to complete the proposed business combination in the third or fourth quarter of 2025.