XEnergy IPO Raises $1.02B, Shares Up 27% on Debut

XEnergy Inc., a Rockville, Maryland-based developer of small modular nuclear reactors, raised $1.02 billion in an initial public offering and saw its shares surge 27 percent in their Nasdaq debut on Friday, April 24, 2026, reflecting strong investor interest in nuclear technology amid rising demand for reliable, carbon-free energy.

The company priced 44.3 million Class A shares at $23 each, exceeding its initial marketing range of $16 to $19 and upsizing the offering from an earlier target of about 42.9 million shares. Trading under the ticker symbol XE, the stock opened at $30.11, reached an intraday high of $31.33 and closed at $29.20. The debut valued XEnergy at approximately $11.5 billion, though estimates varied between $9 billion and $12 billion based on outstanding shares. Demand overwhelmed supply, with subscriptions exceeding available shares by more than 15 times and about one-third of institutional investors receiving no allocation. Company management participated in determining share distributions.

The offering, led by underwriters JPMorgan Chase, Morgan Stanley, Jefferies Financial Group and Moelis, generated proceeds well above initial projections of around $700...