GigCapital7 Corp. said shareholders approved its proposed business combination with Hadron Energy, advancing the nuclear energy company's plan to go public.
The transaction values Hadron Energy at approximately $600 million on a pre-money equity basis following amendments announced in April that reduced the original valuation.
Hadron Energy is developing light-water micro modular reactor technology for commercial nuclear energy applications. The deal remains subject to customary closing conditions and is expected to close before the May 31 outside date under the amended agreement.
GigCapital7 also entered into non-redemption agreements ahead of the shareholder vote to support minimum cash conditions tied to the merger.