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IMSR on Nasdaq

Terrestrial Energy Inc. /DE/

In its 2026 annual report the company says: “Terrestrial Energy Inc. is an advanced nuclear technology company developing the Integral Molten Salt Reactor nuclear plant, which uses the Company’s proprietary design of Molten Salt Reactor.”3 It is headquartered in Charlotte, North Carolina.1 Its shares trade on Nasdaq under the symbol IMSR.1

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Last updated Oct 21, 2026.

Overview

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  • TickerIMSR on Nasdaq1
  • IndustryFabricated Plate Work (Boiler Shops)1
  • HeadquartersCharlotte, North Carolina1
  • Incorporated inDE2
  • Business address2730 W. Tyvola Road, Suite 100, Charlotte, Nc 282172
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2
  • Legal formCorporation

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Terrestrial Energy Inc. is an advanced nuclear technology company developing the Integral Molten Salt Reactor nuclear plant (“IMSR Plant”), which uses the Company’s proprietary design of Molten Salt Reactor (“MSR”). Our mission is to transform global energy markets by commercializing our IMSR Plant, which will deliver low-carbon electricity and industrial heat with superior economics, speed to deployment, and siting flexibility. In a world demanding rapid, scalable nuclear solutions, the IMSR Plant offers a viable, efficient alternative to both the limitations of legacy nuclear and the intermittency of renewables.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-4168.8%Operating margin4
-4624.6%Net margin4
-$8.8MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Research and development100¢$5.2M
  • Income tax0¢$21.0K

Out of $248.4K in revenue.4 The company lost money this year.

Financial statements

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Engineering services revenue$248.4K
Research and development costs$9.8M$5.2M
General and administrative$14.3M$4.2M
Depreciation and amortization$1.2M$1.3M
Total Operating Expenses$25.2M$10.6M
OPERATING LOSS-$25.2M-$10.4M
Government grants$323.5K$708.0K
Loss on extinguishment of debt-$1.2M
Interest and dividend income$1.3M$59.9K
Foreign exchange gain (loss)-$57.2K$617.4K
OTHER (EXPENSE) INCOME-$2.8M-$1.1M
Net loss before income tax-$28.0M-$11.5M
Income tax expense-$17.9K-$21.0K
Net loss-$28.0M-$11.5M
Loss per common share, basic (in dollars per share)-$0.39-$0.19
Loss per common share, diluted (in dollars per share)-$0.39-$0.19
Weighted-Average Shares of Common Shares Outstanding, Basic (in shares)71.6M shares60.4M shares
Weighted-Average Shares of Common Shares Outstanding, Diluted (in shares)71.6M shares60.4M shares
Foreign currency translation adjustments-$260.7K$395.5K
Change in unrealized gains on short term investments$1.1M
Comprehensive loss-$27.1M-$11.1M

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Corporate structure

Terrestrial Energy Inc. /DE/ sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Terrestrial Energy Inc. /DE/

  • CITADEL ADVISORS LLC Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Feb 17, 2026 (2 filings since Sep 30, 2025)
  • Roberto Marco Sella Filed SCHEDULE 13G on Terrestrial Energy Inc. /DE/, latest Jan 22, 2026
  • Linden Capital L.P. Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Nov 12, 2025 (2 filings since Mar 31, 2025)
  • Magnetar Financial LLC Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Nov 12, 2025 (3 filings since Nov 6, 2024)
  • David Michael Leblanc Filed SCHEDULE 13D on Terrestrial Energy Inc. /DE/, latest Nov 4, 2025
  • Simon Irish Filed SCHEDULE 13D on Terrestrial Energy Inc. /DE/, latest Nov 4, 2025
  • First Trust Capital Management L.P. Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Aug 14, 2025 (3 filings since Nov 14, 2024)
  • LMR Partners LLP Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Aug 14, 2025 (2 filings since Nov 14, 2024)
  • MERUS GLOBAL INVESTMENTS, LLC Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Aug 14, 2025 (2 filings since Jun 2, 2025)
  • AQR CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Aug 13, 2025 (4 filings since Nov 14, 2024)
  • PICTON MAHONEY ASSET MANAGEMENT Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest Aug 6, 2025 (3 filings since Oct 17, 2024)
  • Goldman Sachs Filed SCHEDULE 13G/A on Terrestrial Energy Inc. /DE/, latest May 12, 2025 (2 filings since Feb 12, 2025)
  • Terrestrial Energy Inc. /DE/ Charlotte, North Carolina

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Terrestrial Energy Inc. /DE/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.1M4 Dec 31, 2025$7.5M4 Dec 31, 2024−72.0%
Accumulated depreciation$1.3M4 Dec 31, 2025$6.8M4 Dec 31, 2024−81.2%
Property and equipment, net$834.8K4 Dec 31, 2025$770.5K4 Dec 31, 2024+8.3%
Operating-lease assets (leased space)$1.8M4 Dec 31, 2025$622.5K4 Dec 31, 2024+191.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$97.2M4 Dec 31, 2025$3.0M4 Dec 31, 2024+3115.5%
Marketable securities, current$200.6M4 Dec 31, 2025
Marketable securities, non-current$235.2M7 Dec 31, 2024

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$707.7K4 Dec 31, 2025$617.0K4 Dec 31, 2024+14.7%
Finite-lived intangibles, gross$1.0M4 Dec 31, 2025$887.4K4 Dec 31, 2024+14.3%
Accumulated amortization$307.0K4 Dec 31, 2025$270.4K4 Dec 31, 2024+13.5%
Finite-lived intangibles, net$707.7K4 Dec 31, 2025$617.0K4 Dec 31, 2024+14.7%

Properties, in its own words

Our headquarters is located in Charlotte, North Carolina, where we have leased approximately 7,355 square feet of commercial office space, expiring in July 2030. Additionally, we have leased approximately 9,822 square feet of office space in Oakville, Canada, for engineering and R&D support, expiring in January 2030.

Item 2 of the 10-K filed Mar 30, 2026.3

Leadership

Who has led Terrestrial Energy Inc. /DE/, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Shawn Matthews2024
  2. Simon Irish2025–now

Chair

  1. Shawn Matthews2024

Chief financial officer

  1. Steven Bischoff2024
  2. Brian Patrick Thrasher2025–now
2025
Board members and other officers (13)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorDavid LeBlanc named Mar 31, 202623
  • DirectorHugh MacDiarmid named Mar 31, 202623
  • DirectorWilliam Johnson named Mar 31, 202623

Former names

  • HCM II Acquisition Corp.Apr 26, 2024 to Oct 29, 20252

Timeline

  1. Aug 11, 20268-K Results of operations24
  2. Jul 31, 20268-K Executive or director change25
  3. Jul 28, 20268-K Executive or director change; Regulation FD disclosure26
  4. Jul 21, 20268-K Regulation FD disclosure27
  5. Jul 17, 20268-K Executive or director change28
  6. Jun 12, 20268-K Shareholder vote29
  7. May 14, 20268-K Results of operations30
  8. May 8, 20268-K Executive or director change31
  9. Apr 16, 20268-K Executive or director change32
  10. Mar 30, 20268-K Results of operations33
  11. Jan 29, 20268-K Regulation FD disclosure34
  12. Nov 24, 20258-K Change of auditor35
  13. Oct 30, 2025New chief executive Simon Irish becomes CEO8
  14. Aug 15, 2024New chief executive Shawn Matthews becomes CEO9

Calendar

Coming up

  1. Nov 10, 2026Reports results for the quarter ending Sep/202636

When it reported results

  1. Aug 11, 2026Reported quarterly or annual results24
  2. May 14, 2026Reported quarterly or annual results30
  3. Mar 30, 2026Reported quarterly or annual results33

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

178 filings to the SEC since October 2021: 3 annual reports, 9 quarterly reports, 22 major events, 47 insider forms, 29 large holders, 1 private raises, 67 other. The latest 20:

  1. Oct 15, 20264 EDGAR
  2. Oct 14, 20264 EDGAR
  3. Oct 13, 20264 EDGAR
  4. Aug 14, 2026424B3 EDGAR
  5. Aug 11, 202610-Q EDGAR
  6. Aug 11, 20268-K EDGAR
  7. Jul 31, 20268-K EDGAR
  8. Jul 31, 20264 EDGAR
  9. Jul 31, 20263 EDGAR
  10. Jul 28, 20268-K EDGAR
  11. Jul 27, 20264 EDGAR
  12. Jul 27, 20263 EDGAR
  13. Jul 21, 20268-K EDGAR
  14. Jul 17, 20268-K EDGAR
  15. Jun 12, 20268-K EDGAR
  16. Jun 11, 2026EFFECT EDGAR
  17. Jun 5, 2026POS AM EDGAR
  18. May 19, 2026S-8 EDGAR
  19. May 14, 2026424B3 EDGAR
  20. May 14, 2026424B3 EDGAR

The 178 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Simon Irish57$169.5K$13.1M51
2025Steven Millsap58$163.6K$1.5M51
2025Brian Thrasher52$172.7K$1.5M51
2025Shawn Matthews59$5.5K$42.2K51
2024Chief Executive Officer$43.0K$241.0K51

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 19, 2026Raised $85,320 in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC3,414,196$24.2M0.0%+2,110,744
Exchange Traded Concepts, LLC2,160,074$15.3M0.1%+68,913
UBS Group AG1,772,173$12.5M0.0%+1,278,596
BlackRock, Inc.1,074,524$7.6M0.0%−46,361
Jpmorgan Chase & Co966,797$6.8M0.0%−106,276
Geode Capital Management, LLC693,934$4.9M0.0%+34,546
LMR Partners LLP690,702$4.9M0.0%No change
D. E. Shaw & Co., Inc.667,968$4.7M0.0%−546,809
Hudson Bay Capital Management LP589,293$4.2M0.0%+137,006
Susquehanna International Group, Llp571,832$4.0M0.0%+241,556
WINTON GROUP Ltd504,000$3.6M0.1%+7,700
Morgan Stanley412,815$2.9M0.0%+127,266
Verition Fund Management LLC374,958$2.7M0.0%−70,000
Vanguard Fiduciary Trust Co365,772$2.6M0.0%+65,365
Vennlight Capital Management, LP353,010$2.5M1.7%−222,489
State Street Corp346,696$2.5M0.0%+1,176
Charles Schwab Investment Management Inc333,599$2.4M0.0%−4,392
Highbridge Capital Management LLC244,000$1.7M0.1%New
Jane Street Group, LLC240,719$1.7M0.0%New
Alyeska Investment Group, L.P.222,000$1.6M0.0%−500,000
Renaissance Technologies LLC183,800$1.3M0.0%−224,100
Creek Drive Management Group LLC175,000$1.2M0.8%−155,000
CastleKnight Management LP165,400$1.2M0.0%+104,700
Shay Capital LLC134,539$952.5K0.1%+16,453
Northern Trust Corp126,539$895.9K0.0%+2,002

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Terrestrial Energy Inc. /DE/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTerrestrial Energy Inc. /DE/1
  • CIK0002019804
  • Employer ID (EIN)98-17854063
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)3443 Fabricated Plate Work (Boiler Shops)1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address2730 W. Tyvola Road, Suite 100, Charlotte, NC 282171
  • Phone203-930-22001
  • Shares outstanding105,935,254 as of Aug 11, 20266
  • Public float$191.5M as of Jun 30, 20253
  • AuditorUHY LLP, Melville, New York PCAOB ID 1195; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceApr 26, 20241
  • Filings178 in all: 4 (26), 8-K (21), 3 (19), SCHEDULE 13G/A (15), 425 (12), CORRESP (10), 424B3 (8), 10-Q (7)1
    All 35 form types

    SCHEDULE 13G (7), UPLOAD (7), SC 13G (5), EFFECT (4), S-1/A (4), S-4/A (4), 10-K (2), 10-Q/A (2), DEFA14A (2), DRS (2), POS EX (2), S-1 (2), S-8 (2), SCHEDULE 13D (2), 10-K/A (1), 3/A (1), 4/A (1), 424B4 (1), 8-A12B (1), 8-K/A (1), ARS (1), CERT (1), D (1), DEF 14A (1), NT 10-Q (1), POS AM (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 11, 2026
    Proxy statement (DEF 14A) Apr 29, 2026
    Latest 8-K (8-K) Aug 11, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareIMSRThe Nasdaq Stock Market LLC
Redeemable Warrants, each whole warrant exercisable for one Common Stock at a price of $11.50 per shareIMSRWThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks Terrestrial Energy Inc. /DE/ names in Item 1A of its 10-K filed Mar 30, 2026: 64 risks under these headings, as written.3

  • Risks Related to Our Business and Industry
  • We have not yet constructed an IMSR Plant, nor have we entered into any binding contract with any customer, including any of our current portfolio of project consortium partners, to operate an IMSR Plant or deliver electricity or heat, and there is no guarantee that we will be able to do so in the future. Our limited commercial operating history makes it difficult to evaluate our prospects, the risks and challenges we may encounter and our total potential addressable market.
  • Any delays in the development and construction of our IMSR plants and the manufacturing of their key components due to a number of factors, including the degree of pre-fabrication, standardization, on-site construction, long-lead procurement, contractor performance, plant pre-operational and startup testing and other site-specific considerations may adversely impact our business and financial condition.
  • Our limited commercial operating history in a rapidly evolving industry makes it difficult for us to evaluate our future prospects and prepare for the risks and challenges we may encounter.
  • If we fail to manage our growth effectively, we may be unable to execute our business plan, and our business, results of operations, and financial condition could be harmed.
  • IMSR Plants may suffer significant construction delays or cost increases as a result of a variety of factors. Any such delays could cause the construction of a project to ultimately be unprofitable for the Company or otherwise adversely affect the Company’s business, financial condition and results of operations.
  • Any failure to effectively update the design, construction, and operations of our planned IMSR Plants to ensure cost competitiveness could reduce the marketability of our designs and has the potential to impact deployment schedules.
  • Successful commercialization of new, or further enhancements to existing, alternative low-carbon energy generation technologies, such as adding carbon capture and sequestration/storage mechanisms to fossil fuel power plants, wind, solar, geothermal or fusion, may prove to be more cost effective or appealing to the global energy markets and therefore may adversely affect the market demand for our IMSR Plants, potentially adversely affecting our ability to successfully commercialize our IMSR Plants.
  • If demand for our IMSR Plants fails to develop sufficiently, our business and operations could suffer, and we would be unable to achieve or maintain profitability.
  • Our IMSR Plant design may not attract customers as quickly as we expect, or at all.
  • Customers may rescind or back out of non-binding agreements due to various reasons, which could adversely affect our revenue streams, project timelines, and overall financial performance.
  • Our cost estimates are sensitive to broader economic factors, and our ability to control or manage our costs may be limited.
The other 53 risks
  • Competition from existing or new competitors or technologies domestically and internationally could cause us to experience one or more of downward pressures on prices, lower customer demand for our products and services, reduced margins, the inability to take advantage of new business opportunities and the loss of market share.
  • Substantial governmental support for competing technologies or their fuel supply may reduce our competitive advantages.
  • Changes in the availability and cost of electricity, natural gas, oil and other forms of energy are subject to volatile market conditions that could adversely affect our business prospects, financial condition, results of operations and cash flows.
  • The potential disruption of uranium supply chains makes long-range planning uncertain.
  • The cost of electricity and heat generated from nuclear sources may not be cost competitive with other electricity generation sources and/or heat generated from other sources in some markets, which could materially and adversely affect our business prospects, financial condition, results of operations and cash flow.
  • Our illustrative unit economics and levelized cost information are subject to significant risks, assumptions, estimates, and uncertainties. As a result, our actual revenues, timing for achieving business milestones, expenses, capital expenditures, profitability and cash flows may differ materially from our expectations.
  • The IMSR plants may not operate as planned.
  • We and our customers operate in a politically sensitive environment, and the public perception of nuclear energy and radioactive materials could materially and adversely affect us, our customers, and the markets in which we operate.
  • Incidents involving nuclear energy facilities, including accidents, terrorist acts or other high-profile events involving radioactive materials, could materially and adversely affect the public perception of the safety of nuclear energy, and such adverse effects could potentially decrease demand for nuclear energy, increase regulatory requirements and costs, or result in liability or claims that could materially and adversely affect our business.
  • The direct and indirect impact on us and our customers from severe weather and other effects of climate change and the economic impacts of the transition to low-emissions energy, could adversely affect our financial condition, operating results, and cash flows.
  • The occurrence of adverse events, cancellations of significant projects, delays in project timelines, adjustments in cost structures, and other negative developments announced by competitors could have an impact on our operations, financial performance, and future prospects.
  • The IMSR Plant involves toxic, hazardous and/or radioactive materials and could result in liability without regard to fault or negligence.
  • Unsatisfactory safety performance or security incidents at our customers’ facilities — or any nuclear facility around the world — could have a material adverse effect on our business, financial condition and results of operations.
  • We are subject to information technology and cyber security threats which could have adverse effects, including regulatory effects, on our business and results of operations.
  • We rely on a limited number of suppliers for certain materials and supplied components, some of which are highly specialized and are being designed for first-of-a-kind or sole use in the IMSR Plant. We and our third-party vendors may not be able to obtain sufficient materials or supplied components to meet our manufacturing and operating needs, or obtain such materials on favorable terms or at expected costs.
  • We depend on key executives, management, directors, and other highly skilled personnel with highly technical expertise to execute our business plan and oversee our operations, as applicable. Our failure to successfully recruit and retain experienced and qualified personnel could have a material adverse effect on our business.
  • Our ability to protect our patents and other intellectual property rights may be challenged and is not guaranteed. If we are unable to protect our intellectual property rights, our business and competitive position may be harmed.
  • We currently enjoy only limited geographical protection with respect to certain issued patents and trademarks and may not be able to protect our intellectual property rights throughout the world. If we are unable to protect our intellectual property rights, our business and competitive position may be harmed.
  • We may need to defend ourselves against intellectual property infringement claims, which may be time-consuming and could cause us to incur substantial fees and costs.
  • We may not identify relevant third-party patents or may incorrectly interpret the relevance, scope or expiration of a third-party patent, which might adversely affect our ability to develop and market our IMSR Plants.
  • Customization and hybridization of the Thermal and Electric Facility may require additional research and development and/or reliance on external service providers.
  • We may be subject to claims of ownership and other rights to our patents and other intellectual property by third parties.
  • Some of our management team have limited experience in operating a public company.
  • Compliance with the reporting obligations under the United States securities laws and Section 404 of Sarbanes-Oxley requires expenditures of capital and other resources and may divert management’s attention. If we fail to comply with these reporting obligations or to maintain adequate internal controls our operations, and investors’ confidence in us, could be materially and adversely affected.
  • Risks Related to Compliance with Law, Government Regulation and Litigation
  • Our business may be subject to the policies, priorities, regulations, mandates and funding levels of governmental entities and may be negatively or positively impacted by any change thereto.
  • The U.S. government’s budget deficit and the national debt, as well as any inability of the U.S. government to complete its budget or appropriations process for any government fiscal year could have an adverse impact on our or our customers’ business, financial condition, results of operations and cash flows.
  • We may pursue government awards involving cost-share related to our R&D work, which could be affected by our failure to comply with certain laws and regulations.
  • Uncertain global macro-economic and political conditions could materially adversely affect our business prospects, financial condition, results of operations and cash flow.
  • We and our suppliers are subject to stringent U.S. export and import control laws and regulations and analogous laws and regulations in other jurisdictions. Unfavorable changes in these laws and regulations or U.S. government or other relevant government licensing policies, our failure to secure timely U.S. government or other relevant government authorizations under such laws and regulations, or our failure to comply with such laws and regulations could have a material adverse effect on our business prospects, financial condition, results of operations and cash flows.
  • We are part of the nuclear power industry, which is highly regulated. Our molten salt nuclear fuel form differs from fuel forms currently licensed and used by commercial nuclear power plants, and our IMSR technology differs from reactor technology currently in commercial operation, including with respect to potential industrial uses. As a result, the regulatory licensing and approval process for our IMSR Plants may be delayed and made more costly, and industry acceptance of our nuclear fuels may be hampered.
  • Changes in government agency budgets as well as staffing shortages at national laboratories and other government agencies may lengthen our estimated timelines for regulatory approval and construction.
  • Even if the IMSR Plant is licensed in the United States or Canada, we must still obtain approvals on a country-by-country basis to deploy these reactor technologies, which approvals may be delayed or denied or which may require modification to our design.
  • There is no assurance that nuclear regulators will accept the exclusion of the Thermal and Electric Facility from the operating license requirements for the IMSR Plant.
  • Our customers could incur substantial costs as a result of violations of, or liabilities under, environmental laws.
  • We are subject to laws and regulations governing the use, transportation, and disposal of toxic, hazardous and/or radioactive materials. Failure to comply with these laws and regulations could result in substantial fines and/or enforcement actions.
  • Changes in tax laws could adversely affect our business prospects and financial results.
  • We may become involved in litigation that may materially adversely affect our business, financial condition and results of operations.
  • Risks Related to Capital Resources
  • In order to fulfill our business plan, we will require additional funding. To the extent we require such additional investor funding in the future, such funding may be dilutive to our investors and no assurances can be provided as to terms of any such funding. Any such funding and the associated terms will be highly dependent upon market conditions and the progress of our business at the time we seek such funding. The terms of any financing that we pursue may be less favorable than previously anticipated and could become even less favorable depending on the amount of funds we may require.
  • Our corporate expenditures, including our corporate level outspend, are subject to numerous risks and uncertainties.
  • We may experience an adverse impact from inflation and rising costs.
  • We have a history of financial losses and may not achieve profitability in the future. We will need substantial additional capital to complete the design of the IMSR Plant and fund our operations.
  • Future indebtedness could expose us to risks that could adversely affect our business, financial condition and results of operations.
  • Our actual operating results may differ significantly from any guidance we may provide.
  • Our financial results may vary significantly from quarter to quarter.
  • Changes in our accounting estimates and assumptions could negatively affect the reporting of our financial position and results of operations.
  • Risks Related to our Securities
  • We incur additional costs as a public company that reports to the SEC and our management is required to devote substantial time to meet compliance obligations.
  • The market price of Terrestrial Energy’s securities may decline.
  • There is no guarantee that our warrants will ever be in the money, and they may expire worthless.
  • Your unexpired public warrants may be redeemed prior to their exercise at a time that is disadvantageous to you, thereby making your public warrants worthless.
  • The Warrants may have an adverse effect on the market price of the Terrestrial Common Shares.
  • The Certificate of Incorporation provides, subject to limited exceptions, that the courts of the State of Delaware will be the sole and exclusive forum for certain stockholder litigation matters, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or stockholders.
  • A significant portion of our total outstanding shares of common stock are restricted from immediate resale but may be sold into the market in the near future. This could cause the market price of our common stock to drop significantly, even if our business is doing well.
  • As an “emerging growth company,” we cannot be certain if the reduced disclosure requirements applicable to “emerging growth companies” will make our common stock less attractive to investors.

Legal proceedings

From time to time, we may be subject to various claims, lawsuits and other legal and administrative proceedings that may arise in the ordinary course of business. Some of these claims, lawsuits and other proceedings may range in complexity and result in substantial uncertainty; it is possible that they may result in damages, fines, penalties, non-monetary sanctions, or relief. We currently do not have any claims, lawsuits, or proceedings against us that, individually or in the aggregate, would be considered material to our business or likely to result in a material adverse effect on our future operating results, financial condition, or cash flows.

The opening of Item 3, Legal Proceedings.3

Sources

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