Newcleo to debut on Nasdaq following SPAC merger

Newcleo, a next-generation nuclear energy company led by Stefano Buono, is expected to begin trading on the Nasdaq starting Tuesday, September 22. The listing follows a merger with the Special Purpose Acquisition Company (SPAC) NewHold Investment Corp. III.

Shareholders approved the business combination with approximately 93.4% of votes in favor, representing 72.4% of NewHold's outstanding ordinary shares. The transaction closing is tentatively scheduled for Monday, September 21. Following the close, the entity will operate as Newcleo plc, with shares and warrants expected to trade under the tickers NWCL and NWCLW.

The company, which is undergoing significant expansion in the United States, had a pre-money valuation of approximately $2.4 billion at the time the merger was announced. Newcleo estimates it will have roughly $429 million in financial resources available. The company recently appointed energy industry expert Jeffrey Lyash as president to support its growth.