Hennessy and Merger Sponsor Each Own 5.3% of ONE Nuclear
Key Facts
ONE Nuclear Energy disclosed that HC VII Sponsor LLC and Daniel J. Hennessy each own 5,744,999 shares, equivalent to 5.3% each, according to the ownership table in the company’s report following completion of the merger. The two percentages do not represent separate stakes that can be added together: the disclosure says the sponsor is the registered owner of the shares and Daniel is deemed their beneficial owner through control arrangements. The report also attributed beneficial ownership of 6,494,999 shares, or 6.0%, to Thomas D. Hennessy. Of those shares, 750,000 are registered directly in his name, while other shares are attributed to him through the sponsor structure and shared voting and dispositive control. The disclosure follows the company’s transition to a publicly listed entity after its merger with Hennessy Capital Investment Corp. VII.
The merger transactions were completed on September 23, 2026, the closing date specified in the company’s report. ONE Nuclear shares began trading on Nasdaq under the ticker ONEN the following day, September 24. The company issued 94,253,842 shares to ONE Nuclear members in connection with the transaction, with a contingent right to receive up to 13.0 million additional shares upon reaching specified price milestones. Common shares issued and outstanding totaled 108,258,979 as of the closing date. These figures show the capital structure underlying the ownership percentages disclosed as the company entered the public market.
On the SPAC shareholder side, 13,809,029 public shares were redeemed upon completion of the merger, for an aggregate value of about $146.5 million. The disclosure says the redemption value was about $10.61 per share. After redemptions and related payments, about $1.7 million remained in the trust account, according to one report item, while another item gives a balance of about $2.2 million after redemptions and prepayments under a forward purchase agreement and before expenses. The difference between the two balances reflects different timing and accounting for payments and expenses in the disclosure. The company thus sets out the context for the remaining liquidity in the trust account at the deal’s closing, alongside the issuance of consideration shares to ONE Nuclear members.
The company’s disclosed Louisiana portfolio consists of development projects combining nuclear power, natural gas and battery storage, rather than operating plants, according to the disclosure. The Amberjack project targets up to 1 gigawatt of nuclear capacity, while the Cayman project includes a 2.88-gigawatt gas plant and a battery system with 700 megawatts of power and 2.88 gigawatt-hours of capacity. The Barracuda project includes a 1.2-gigawatt gas plant, 300 megawatts of storage with 1,200 megawatt-hours of capacity, and a 1-gigawatt data center. At its launch, the company described its platform as comprising 5 gigawatts of nuclear, gas and storage capacity in active development. Chief Executive Richard Taylor said the public listing gives the company "the access to capital and visibility needed to advance the Louisiana portfolio at the pace the market demands."
The projects are at different stages of development. Amberjack remains in technical and environmental assessment, and the company says determining its final capacity, reactor technology and plant design depends on technology selection, engineering, environmental review, transmission studies, commercial arrangements, financing and federal licensing. For Cayman, the company says its current plan does not include nuclear generation, and that development will advance in phases depending on customer demand, fuel availability, utility requirements, interconnection studies, environmental reviews, permits and financing. The project may include an adjacent data center facility. This means the portfolio’s target capacity remains contingent on development stages, approvals and financing, according to the company’s descriptions of the projects.
ONEN closed at $1.33 on October 23, 2026, up 1.53% during the session from a previous-day close of $1.31, according to the supplied price data. The ownership disclosure does not link this move to the stock, nor does it establish a broader trend in institutional interest in nuclear energy companies. The disclosure details beneficial ownership associated with the SPAC sponsor following completion of the merger. The registration rights agreement required ONE Nuclear to file a resale registration statement for the registered securities with the Securities and Exchange Commission within 30 days of closing and to use reasonable efforts to have it declared effective after filing. Filing the statement is the next step with a specified timetable under the agreement following the start of public trading.