Terrestrial Energy raises $280mln, values company at $925mln.

Terrestrial Energy is developing a small modular nuclear plant using Integral Molten Salt Reactor technology. The company will receive $280 million in gross proceeds from a PIPE commitment and cash held in HCM II Acquisition Corp.'s trust account. Proceeds will be used to accelerate commercial deployment of the IMSR technology and pay transaction expenses. The transaction values Terrestrial Energy at a pre-money equity value of $925 million.