Deep Fission, Inc. is an innovative, advanced nuclear energy technology company that successfully completed its initial public offering (IPO) on the Nasdaq.
The company is developing a radical, proprietary approach to nuclear power: installing small modular pressurized water reactors (SMRs) inside optimized boreholes roughly one mile (1.6 km) underground.
🚀 Recent IPO Profile & Pricing (June 2026)
Deep Fission hit the market with an unusual background—having technically merged with a SPAC (Surfside Acquisition) in late 2025 before executing a traditional, downsized public offering to establish its public trading footprint.
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Ticker Symbol:
FISN(Traded on the Nasdaq Global Market) -
IPO Pricing Date: June 17, 2026 (Began trading on June 18, 2026; offering closed June 22, 2026)
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IPO Share Price: $16.00 per share (landing at the bottom of its heavily revised $16 to $18 target range)
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Shares Offered: 2.5 Million shares (sharply downsized by 72% from its original target of 6 million shares priced between $24 and $26)
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Total Capital Raised: $40 Million in gross proceeds (before underwriting discounts)
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Fully Diluted Valuation: Roughly $1.1 Billion at launch.
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Lead Underwriters: Benchmark (a StoneX Company), Seaport Global Securities, and Maxim Group LLC.
📊 Company Fundamentals & Technology Playbook
Founded in 2023 by the father-daughter scientist duo Elizabeth and Richard Muller, the Berkeley, California-based company aims to circumvent the massive, multi-billion-dollar infrastructure costs typically crippling traditional surface nuclear power plants.
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The Gravity Reactor™: Their core asset is a 15 MWe (megawatt electrical) small modular reactor. By placing it a mile underground, they use the earth’s natural geology for passive shielding and containment. This eliminates the need for massive concrete dome structures and utilizes high hydrostatic water pressure from the vertical column to keep the system stable.
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Target Clients: Deep Fission’s immediate commercial focus is providing continuous, clean baseload power to hyperscale data centers and high-demand industrial operators struggling to meet immense power grids.
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Key Site: They broke ground on a pilot demonstration project at the Great Plains Industrial Park in Parsons, Kansas. The company was also selected as one of the few entities to receive federal development support under the U.S. Department of Energy’s (DOE) Nuclear Reactor Pilot Program.
💸 Profit / Loss & Financial Status
Because the company’s technology is entirely in the conceptual, early engineering, and regulatory testing phases, its balance sheet mirrors that of an early-stage biotech firm.
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Revenue: $0. Deep Fission has not constructed a commercial reactor yet and has generated zero active operational revenue to date.
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Net Profit/Loss: Operating at a net loss due to heavy engineering, R&D, and regulatory compliance fees. In their final prospectus filings, the company also disclosed that they had to restate prior financial statements to correct accounting errors related to early SAFE (Simple Agreement for Future Equity) valuations and stock-based compensation.
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Use of Proceeds: The $40 million raised from the Nasdaq listing is strictly earmarked for general working capital, engineering, R&D, and navigating the extensive Nuclear Regulatory Commission (NRC) licensing process, with a commercial target deployment runway aiming for 2027 or 2028.