Nuclea Energy to Acquire Moltex's Advanced Nuclear Tech Assets in Cash Deal
MGRX has more than doubled off its 52-week low of $0.162.
Summary
Nuclea Energy, the private nuclear startup merging with Mangoceuticals, has signed a definitive agreement to acquire Moltex Energy's advanced nuclear technology assets. The deal brings over a decade of R&D, including the SSR-W molten salt reactor, WATSS spent fuel recycling, and 80 patents across 9 families, backed by more than C$96 million in prior funding. The purchase price is entirely in cash, subject to downward adjustment for certain external debts. This significantly expands Nuclea's technology portfolio beyond its Morpheus microreactor, adding grid-scale reactor designs and fuel recycling capabilities. For Mangoceuticals shareholders, who will hold only 4% of the combined company after the reverse merger, this acquisition strengthens the asset base of the entity they are set to own a small stake in. The deal follows Nuclea's MOU with Utah to explore a nuclear test reactor site, signaling aggressive expansion.
At the time of this announcement, MGRX was trading at $0.75 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $9.2M. The 52-week trading range was $0.16 to $2.75. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.