Source: Bloomberg
Summary
General Fusion Inc., a Canadian company developing fusion energy technology, began trading on the Nasdaq stock exchange on July 12, 2023. The listing follows a reverse merger with a special purpose acquisition company (SPAC), which saw high redemptions. The company raised $250 million in gross proceeds, according to a statement. General Fusion aims to develop practical fusion energy, reported Bloomberg.
Our Reading
The launch follows a familiar script.
General Fusion joins the Nasdaq with a fusion energy vision, $250 million in funding, and the burden of high redemptions. The company’s SPAC merger is just another example of how “new” energy sources still rely on old funding methods. Because what’s more innovative than a reverse merger? General Fusion’s listing is a reminder that “revolutionary” tech often starts with familiar financial deals.
Author: Evan Null
