Nuclear startup Deep Fission goes public in a curious SPAC

Nuclear startup Deep Fission has gone public through a reverse merger with Surfside Acquisition Inc., raising $30 million at $3 per share—significantly below the typical $10 target for SPAC deals. The company, which previously raised $15 million in a seed round, aims to build small, underground cylindrical nuclear reactors designed to mitigate risks such as meltdowns and terrorist attacks by burying the reactors a mile underground. These 15-megawatt reactors use pressurized water cooling technology similar to that in nuclear submarines and existing power plants. Deep Fission recently secured a deal with data center developer Endeavor to deploy 2 gigawatts of underground reactors and was selected by the U.S. Department of Energy for a streamlined permitting process. Despite the modest capital raise and the decision to list on the OTCQB market, which suggests challenges in attracting new or existing investors, the merger provides Deep Fission with additional runway to advance its technology in a capital-intensive sector. The company