Uranium explorer Eagle Nuclear Energy debuts on Nasdaq after SPAC merger as data-center power demand boosts the nuclear trade

What happened

Eagle Nuclear Energy started trading on Nasdaq after completing a merger with blank-check firm Spring Valley Acquisition Corp II, and the stock was up about 14.6% intraday after the debut.

The company’s flagship “Aurora” project is described as one of the largest undeveloped uranium deposits in the U.S., located along the Oregon–Nevada border.

Management says there are no offtake agreements yet, but they’re getting early interest, with supply expected to come online in the early 2030s; they’re targeting production around 2032 (with a possibility of pulling that forward if conditions stay supportive).

The merger includes a $30m public-private investment expected to fund r ...