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X-energy priced its upsized IPO of 44.25 million Class A shares at $23 each, raising about $1.02 billion before underwriting discounts and expenses. The company also granted underwriters a 30-day option to buy up to 6.64 million additional shares.

The shares are expected to begin trading on the Nasdaq Global Select Market on April 24, 2026, under the ticker XE, with the offering expected to close on April 27. J.P. Morgan, Morgan Stanley, Jefferies, and Moelis & Company are serving as lead joint book-running managers.

The listing comes as investor interest in advanced nuclear technology has accelerated, driven by rising electricity demand from data centers, industrial electrification, and energy security concerns. X-energy is developing small modular reactor technology and proprietary nuclear fuel, positioning itself in a sector that has drawn growing policy and private-capital support despite long commercialization timelines and regulatory hurdles.

The upsized offering gives X-energy fresh capital as advanced nuclear developers compete to move from design and licensing toward deployment. For investors, the IPO adds another publicly traded name tied to the nuclear revival, but one still exposed to the execution risks common to first-of-a-kind energy infrastructure.

By Charles Kennedy for Oilprice.com

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