NuScale stock slides as dilution fears linger ahead of Monday’s open

NEW YORK, December 29, 2025, 03:22 ET — Market closed

• NuScale Power shares last closed at $14.85, down 7.7% in the last session.
• Stockholders approved a plan to double NuScale’s authorized Class A shares to 662 million, a filing showed.
• The company has an at-the-market stock sale program for up to $750 million, another filing showed.

NuScale Power Corporation shares closed down 7.7% on Friday at $14.85, extending a slide that has kept investors focused on potential dilution from future share issuance.

The move comes after NuScale disclosed that stockholders approved an amendment to double the company’s authorized Class A common shares to 662 million from 332 million at a Dec. 16 special meeting.

Authorized shares are the maximum number of shares a company is allowed to issue under its charter. Investors often watch authorized-share increases because they can pave the way for new stock sales that dilute existing holders.

In its proxy materials for the vote, NuScale warned that additional share issuance could reduce existing shareholders’ ownership and voting power, and noted that holders do not have preemptive rights to buy new shares to maintain their stake.

The company also said it has not yet commercialized or sold its NuScale Power Modules, and that its only revenue has come from U.S. Department of Energy cost-sharing awards and subcontract work tied to a front-end engineering and design project in Romania.

NuScale told shareholders it expects to incur losses in the near to medium term and anticipates needing additional capital resources to fund operations.

A separate SEC filing showed NuScale entered a sales agreement for an at-the-market offering — a program that lets a company sell newly issued shares into the open market from time to time — with an aggregate offering price of up to $750 million.

NuScale said the new authorized shares could be used for capital-raising and financing transactions, among other corporate purposes, and that having sufficient authorized shares was “necessary” to fund its business plan. SEC

On Friday, the stock traded between $14.75 and $16.00, with volume of about 24.9 million shares.

Other nuclear-linked names also ended lower in the last session, with small-reactor developer Oklo down 5.4% and uranium producer Cameco off 0.5%.

NuScale’s investor events page showed no upcoming events, leaving traders to look to SEC filings and company updates for the next catalyst.

Before trading resumes, investors will watch for any indication the company is tapping its at-the-market program or pursuing other financing, after the authorized-share increase gave it more room to issue stock.

Technically, traders will also be watching whether the shares hold above Friday’s $14.75 intraday low, after the stock fell 7.7% in the last session.

For now, NuScale shares were last at $14.85 with U.S. equity markets shut ahead of the Monday open.