The wave of nuclear companies going public via initial public offerings (IPOs) and special purpose acquisition company (Spac) transactions is continuing as these firms — generally start-ups — seek funding for deployment ambitions despite diminishing equity market returns. The vast majority of these companies are focused on deploying their own small modular reactor (SMR) or advanced reactor designs and occasionally also fabricating fuel for their reactors. All these IPOs and Spacs mean companies are, often for the first time, releasing illustrative economics for their technologies, providing some insight into how companies think they can compete in a crowded reactor field. But prospectuses can’t answer the question of how these companies will fare when it comes to actually managing construction of a reactor.