Holtec Nuclear Corporation is preparing to enter the public market after filing for an initial public offering with the U.S. Securities and Exchange Commission. The company plans to list its Class A shares on Nasdaq and Nasdaq Texas under the ticker HNUC. However, important details are still missing, including the number of shares, expected price range and final valuation. Earlier reports suggested that Holtec could seek a valuation of about $10 billion, but that figure has not been officially confirmed. 

What makes the planned IPO notable is that Holtec already has an operating business, unlike many nuclear companies that are still waiting to generate meaningful revenues. Holtec operates an established nuclear business that is already generating revenues and profits. The company is also pursuing growth through small modular reactors, or SMRs, a key part of its longer-term expansion strategy. In the first quarter of 2026, Holtec generated $165.3 million in revenues and $17.8 million in net income. This gives investors something more concrete to evaluate before buying the shares. At the same time, much of the excitement surrounding the IPO is likely to come from expectations that Holtec can significantly expand its SMR business.

The IPO therefore comes down largely to pricing and investor expectations. Interest in nuclear power has grown as data centers and artificial intelligence increase electricity demand, creating a supportive backdrop for nuclear-related investments. However, SMR projects still require lengthy regulatory approvals, construction and substantial funding before producing meaningful returns. If Holtec prices the offering reasonably, its existing revenue base could appeal to investors seeking nuclear exposure. A rich valuation, however, could leave the stock heavily dependent on SMR growth that may take years to materialize.

Holtec’s planned IPO could also widen the choices available to investors seeking exposure to advanced nuclear power. Once listed, Holtec would enter a public market that already includes reactor developers such as Oklo Inc. (OKLO Quick QuoteOKLO - Free Report) and NuScale Power Corporation (SMR Quick QuoteSMR - Free Report) . However, the companies are approaching the nuclear opportunity differently. Holtec combines an established nuclear-services business with its developing SMR-300 program, while OKLO and NuScale remain more closely tied to the future commercial deployment of their advanced reactor technologies.

Other Publicly Traded Advanced Nuclear Companies

OKLO is developing its Aurora nuclear powerhouses while building capabilities around fuel and nuclear materials. Its first Aurora project at Idaho National Laboratory has received an important preliminary safety approval from the U.S. Department of Energy, while site construction, procurement and system integration are progressing. OKLO is also planning a 1.2-gigawatt clean-energy campus in Ohio, where it is working with Kiewit on engineering, procurement and construction planning. Separately, its Groves isotope facility reached first criticality in August 2026, giving the company practical experience in building and starting up a nuclear facility.

Meanwhile, NuScale Power remains the only SMR developer with U.S. NRC design certification and has continued preparing its technology for commercial deployment. Its partner ENTRA1 Energy is advancing discussions with the Tennessee Valley Authority toward a power purchase agreement for a potentially large U.S. nuclear deployment. NuScale is also working with Nuclearelectrica and RoPower on a Romanian project expected to use six NuScale Power Modules. These projects keep the Zacks Rank #3 (Hold) company positioned among the more advanced commercial SMR developers. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.