Hennessy Capital Investment Corp. VII (HVII) filed a Form S‑4 registration statement with the U.S. Securities and Exchange Commission on December 23, 2025, and the filing was disclosed on January 6, 2026. The document details the proposed merger with ONE Nuclear Energy, a developer of natural‑gas‑powered and small‑modular‑reactor (SMR) energy parks, and sets the stage for the combined company to list on Nasdaq under the ticker “ONEN.”
The merger is driven by ONE Nuclear’s hybrid strategy, which pairs near‑term revenue from natural‑gas power with long‑term, scalable clean energy from SMRs. The company’s model is designed to meet the growing demand for dispatchable, low‑carbon power that is especially attractive to data‑center operators and other energy‑intensive customers. By going public through a SPAC, ONE Nuclear gains access to capital markets that can fund the construction of SMR sites while providing a liquidity event for existing investors.
The S‑4 outlines a $1 billion equity valuation for ONE Nuclear and projects up to $210 million in gross proceeds from a private investment in public equity (PIPE) transaction, in addition to up to $195 million of cash held in HVII’s trust account. These funds will be used to accelerate SMR development, support the construction of natural‑gas power parks, and provide working capital for the combined entity’s operations. The trust‑account cash is subject to shareholder redemptions and transaction expenses, but it represents a significant liquidity cushion for the merger.
Richard Taylor, Chairman and CEO of ONE Nuclear, said the company is “positioning itself to meet the growing demand for dispatchable and decarbonised energy across North America.” Daniel Hennessy, Chairman of HVII, added that the merger “builds an energy platform centered on durability, scale, and long‑term ownership.” Their comments underscore the strategic intent to combine operational expertise with a robust capital structure to capture a rapidly expanding SMR market, projected to reach $13.8 billion by 2032.
The transaction places ONE Nuclear in a competitive position alongside other SMR developers that have gone public via SPACs. Strategic partnerships with Rolls‑Royce for gas‑power units and Black & Veatch for engineering, procurement, and construction services give the company a credible execution engine. The hybrid approach also mitigates the long licensing timelines that typically delay SMR deployment, allowing the company to generate early revenue while building long‑term assets. The merger therefore represents a significant step toward delivering a diversified, low‑carbon energy portfolio to investors and customers alike.
The S‑4 filing is a key regulatory milestone that moves the deal from announcement to the next phase of shareholder approval and SEC review. Successful completion of the merger would create a publicly traded company that can leverage market capital to accelerate SMR deployment and meet the energy needs of a data‑center‑heavy economy.
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