Deep Fission (FISN) Registration filing summary

Company overview and business model

• Designs modular, underground pressurized water reactors (PWRs) emplaced one mile below ground, leveraging natural geology for containment and safety, reducing costs and deployment timelines compared to traditional nuclear plants.

• Targets explosive power demand from AI workloads, data centers, heavy industry, and energy-constrained regions, with modular units (15 MWe each) scalable to 1.5 GW or more.

• Business model focuses on technology provision, licensing, and services, with customers and partners leading project financing and construction.

• Revenue streams include upfront reactor delivery/integration, EPC support, recurring IP licensing, and operations & maintenance services.

• Selected by the DOE for its Reactor Pilot Program, providing a pathway to expedited demonstration and commercial deployment.

Financial performance and metrics

• No revenue generated to date; net losses of $8.0 million in 2024 and $7.1 million for the six months ended June 30, 2025.

• Accumulated deficit of $15.8 million as of June 30, 2025; cash balance of $4.8 million at that date.

• Auditor issued a "going concern" opinion due to recurring losses and insufficient cash to fund operations for the next twelve months.

• Operations funded primarily through equity issuances and SAFE Notes; $26 million net proceeds from recent Private Placement.

Use of proceeds and capital allocation

• Proceeds from Placement Agent Warrants (up to $1.76 million) and Private Placement intended for working capital, engineering, R&D of the first pilot reactor, and general corporate purposes.

• Funds also allocated to management, legal, accounting, and potential acquisitions, though none are currently planned.