GSRT Stock In Spotlight After Terra Innovatum Merger Closes

GSR III Acquisition Corp (GSRT) stock became one of the top trending tickers on Stocktwits on Friday morning after Terra Innovatum Global, a developer of micro-modular nuclear reactors, announced the closing of its business combination with the special purpose acquisition company.

The closing came on the heels of shareholder approval at GSRT’s “Extraordinary General Meeting” of shareholders on October 7. The firms stated that the combined company will operate under the name Terra Innovatum Global N.V. and its ordinary shares will commence trading on the Nasdaq Global Market under the ticker symbol "NKLR" on Friday, October 10.

Retail sentiment on GSRT remained unchanged in the ‘extremely bullish’ territory compared to a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.

“Closing this transaction and debuting on Nasdaq marks a defining moment for our company and for the future of clean energy,” Alessandro Petruzzi, CEO of Terra Innovatum, said. The company will be led by its existing management team.

The company said that it would be the first publicly traded nuclear developer that uses low-enriched uranium (LEU) and off-the-shelf components to deliver a low-cost, zero-carbon, and reliable micro-modular reactor solution.

The proceeds of $130 million from this transaction are expected to fully fund SOLO micro-modular reactor deployment and accelerate its scale-up. “With SOLO, we’re advancing a reactor that is practical to manufacture, safe to deploy, and ready for real-world applications on a commercial timeline. By using proliferation-resistant LEU fuel and proven components, we’re removing the barriers that have slowed nuclear innovation from leaving the lab and entering commercial scale,” Petruzzi said.

Shares of GSRT have climbed nearly 57% in the last 12 months, as of Thursday’s closing.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Scott Bessent Reportedly Narrows Down Fed Chair Candidates List To Five

Share

·

Add us on