Meshflow to merge with nuclear tech developer HGP in $1.2B SPAC deal
What's the deal? Meshflow Acquisition CorpDealroom has a profile for this one. Try Dealroom →, a Nasdaq-listed special purpose acquisition company (SPAC), has signed a definitive business combination agreement with HGP Intelligent EnergyDealroom has a profile for this one. Try Dealroom →, a developer of load-following technology for nuclear power plants. The two will combine under a newly formed Delaware holding company that will become the publicly traded parent of the combined business.
The terms: The transaction implies a pro forma equity value of approximately $1.2 billion. ApplebyDealroom has a profile for this one. Try Dealroom → acted as Cayman Islands legal counsel to Meshflow, with a team led by Cayman partner Alexandra Low and BVI partner James Kitching.
What's the endgame? Proceeds are expected to fund qualification and manufacturing of HGP's variable-speed reactor coolant pump, plus continued development and validation of its digital twin technology. Money will also support site development and licensing work for HGP's Integrated Naval Nuclear Energy Campus.
The signal: The deal reflects growing investor appetite for nuclear power technology reaching public markets via SPAC combinations. Appleby has advised on a string of similar deals, including Apex Treasury CorpDealroom has a profile for this one. Try Dealroom →'s $4 billion combination with TECfusionsDealroom has a profile for this one. Try Dealroom → and Black Spade Acquisition IIIDealroom has a profile for this one. Try Dealroom →'s proposed merger with Astrum SpaceDealroom has a profile for this one. Try Dealroom →.
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