Eagle Nuclear Energy (NUCL) Registration filing summary

Company overview and business model

• Operates as a next-generation nuclear energy company integrating domestic uranium exploration with proprietary small modular reactor (SMR) technology.

• Owns the largest mineable, measured and indicated uranium deposit in the U.S. (Aurora Uranium Project, Oregon) and holds rights to the adjacent Cordex Zone.

• SMR technology is based on sodium-cooled, fast-spectrum reactors (VSLLIM and SLIMM) under exclusive license from UNM Rainforest Innovations.

• Aims to supply uranium for both traditional reactors and SMRs, targeting utilities, energy producers, and advanced computing sectors.

• Early-stage company with no current revenues and a vertically integrated strategy from uranium mining to SMR deployment.

Financial performance and metrics

• For the year ended November 30, 2025, reported a net loss of $5.26 million; for the three months ended February 28, 2026, net loss was $1.50 million.

• As of February 28, 2026, held $31.29 million in cash and $30.7 million in working capital, with positive liquidity outlook for the next 24 months.

• Operating expenses increased due to expanded operations, business development, and exploration activities.

• No material revenue generated to date; future profitability dependent on advancing the Aurora project and commercializing SMR technology.

Use of proceeds and capital allocation

• Will receive up to $270.6 million from warrant exercises if fully exercised for cash; proceeds to be used for general corporate purposes.

• Raised $29.7 million in PIPE financing through issuance of Series A Cumulative Convertible Preferred Stock and PIPE Warrants.

• Proceeds from warrant exercises are contingent on market price exceeding exercise price ($11.50 for Public/Private Warrants, $12.00 for PIPE Warrants).

• No proceeds from secondary sales by selling securityholders.