Newcleo Completes SPAC Merger, Begins Nasdaq Trading

Newcleo plc, a developer of lead-cooled fast reactors and mixed-oxide nuclear fuel technology, has finalized its merger with NewHold Investment Corp III, a special purpose acquisition company (SPAC). The transaction closed on September 21, 2026, with the company’s shares and warrants commencing trading on the Nasdaq Global Select Market under the ticker symbols `NWCL` and `NWCLW` respectively. The combined entity raised approximately $247 million in gross proceeds, comprising $216 million from a private investment in public equity (PIPE) and $31 million from NewHold’s trust account. Existing shareholders rolled over 100% of their equity in the deal, which valued newcleo at a pre-money equity value of around $2.4 billion, exceeding $1 billion in total funds raised since announcing the business combination. An additional $75 million may become available under a forward purchase agreement, further bolstering the company’s financial flexibility.