Welcome to our dedicated page for HCM II Acquisition - Warrants SEC filings (Ticker: HONDW), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
HCM II Acquisition Corp. filings document the SPAC's completed business combination and the successor registrant, Terrestrial Energy Inc. The records include 8-K material-event reports, definitive proxy materials, capital-structure disclosures and governance updates tied to the transition from a blank-check issuer to an operating public company.
Terrestrial Energy filings identify common stock and redeemable warrants registered on Nasdaq under IMSR and IMSRW, with each whole warrant exercisable for one share of common stock at $11.50 per share. The company's later filings disclose operating and financial results, annual-meeting proxy matters, executive compensation arrangements, equity-incentive plan references and board-level changes.
Terrestrial Energy Inc. reported a net loss of $10,503 (amounts in thousands) for the three months ended March 31, 2026, unchanged at $(0.10) per share versus 2025 due to higher share count. Operating expenses more than doubled to $11,931, driven by increased research and development spending of $4,566 and general and administrative costs of $7,304 as the company scales its Integral Molten Salt Reactor program.
Despite higher losses, Terrestrial Energy ended the quarter with $76,946 in cash and cash equivalents and $198,018 in short-term investments, supporting net working capital of $271,695 and total assets of $295,168. Management believes this liquidity, enhanced by more than $292,000 of gross proceeds from its late‑2025 business combination and related financing, is sufficient to fund operations for at least the next twelve months while it advances IMSR development and DOE-supported pilot projects.
Terrestrial Energy Inc. reported a net loss of $10,503 (amounts in thousands) for the three months ended March 31, 2026, unchanged at $(0.10) per share versus 2025 due to higher share count. Operating expenses more than doubled to $11,931, driven by increased research and development spending of $4,566 and general and administrative costs of $7,304 as the company scales its Integral Molten Salt Reactor program.
Despite higher losses, Terrestrial Energy ended the quarter with $76,946 in cash and cash equivalents and $198,018 in short-term investments, supporting net working capital of $271,695 and total assets of $295,168. Management believes this liquidity, enhanced by more than $292,000 of gross proceeds from its late‑2025 business combination and related financing, is sufficient to fund operations for at least the next twelve months while it advances IMSR development and DOE-supported pilot projects.
Terrestrial Energy Inc. reported first quarter 2026 results, highlighting a development-stage nuclear business with a substantial cash position and growing expenses as projects advance. The company focuses on its Integral Molten Salt Reactor (IMSR) engineering and regulatory programs, supply chain development, and commercial pipeline.
As of March 31, 2026, Terrestrial Energy held $289.9 million in cash and investments and described its balance sheet as providing a significant runway. Net loss for the quarter was $10.5 million, or $(0.10) per share, compared with a $6.3 million loss a year earlier, driven by higher research and development and general and administrative costs.
Total operating expenses rose to $11.9 million from $4.9 million, reflecting increased R&D and corporate spending. Other income turned positive, helped by $1.5 million of interest and dividend income and minimal interest expense after prior-period convertible note financing. The company ended the quarter with $295.2 million in total assets and $6.6 million in total liabilities.
Terrestrial Energy Inc. reported first quarter 2026 results, highlighting a development-stage nuclear business with a substantial cash position and growing expenses as projects advance. The company focuses on its Integral Molten Salt Reactor (IMSR) engineering and regulatory programs, supply chain development, and commercial pipeline.
As of March 31, 2026, Terrestrial Energy held $289.9 million in cash and investments and described its balance sheet as providing a significant runway. Net loss for the quarter was $10.5 million, or $(0.10) per share, compared with a $6.3 million loss a year earlier, driven by higher research and development and general and administrative costs.
Total operating expenses rose to $11.9 million from $4.9 million, reflecting increased R&D and corporate spending. Other income turned positive, helped by $1.5 million of interest and dividend income and minimal interest expense after prior-period convertible note financing. The company ended the quarter with $295.2 million in total assets and $6.6 million in total liabilities.
Terrestrial Energy Inc. reported that director David Hill has notified the company he will resign from its Board of Directors effective July 1, 2026.
Hill has served on the Board since 2014, and the company states his resignation is not due to any disagreement about its operations, policies, or practices.
Terrestrial Energy Inc. reported that director David Hill has notified the company he will resign from its Board of Directors effective July 1, 2026.
Hill has served on the Board since 2014, and the company states his resignation is not due to any disagreement about its operations, policies, or practices.
Terrestrial Energy Inc. is asking stockholders to vote at its 2026 virtual annual meeting. The meeting will be held by live webcast on June 11, 2026 at 10:00 a.m. Eastern time for holders of common stock and special voting preferred stock as of April 20, 2026.
Stockholders are being asked to elect three Class I directors — Frederick Buckman, William Johnson, and Hugh MacDiarmid — to terms running to the 2029 annual meeting, and to ratify UHY LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026. The Board recommends voting “FOR” all nominees and “FOR” auditor ratification.
The proxy also describes the company’s classified nine‑member board structure, committee composition, director independence determinations, executive and director compensation programs, and ownership data. It notes the October 2025 business combination in which HCM II Acquisition Corp. became Terrestrial Energy Inc. and the company’s shares and warrants began trading on Nasdaq under “IMSR” and “IMSRW.”
Terrestrial Energy Inc. is asking stockholders to vote at its 2026 virtual annual meeting. The meeting will be held by live webcast on June 11, 2026 at 10:00 a.m. Eastern time for holders of common stock and special voting preferred stock as of April 20, 2026.
Stockholders are being asked to elect three Class I directors — Frederick Buckman, William Johnson, and Hugh MacDiarmid — to terms running to the 2029 annual meeting, and to ratify UHY LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026. The Board recommends voting “FOR” all nominees and “FOR” auditor ratification.
The proxy also describes the company’s classified nine‑member board structure, committee composition, director independence determinations, executive and director compensation programs, and ownership data. It notes the October 2025 business combination in which HCM II Acquisition Corp. became Terrestrial Energy Inc. and the company’s shares and warrants began trading on Nasdaq under “IMSR” and “IMSRW.”
Terrestrial Energy Inc. updated employment agreements for three senior executives, clarifying pay, bonuses, equity eligibility and severance protections.
Chief Financial Officer Brian Thrasher will receive a $350,000 base salary, a target bonus equal to 43% of salary, and potential equity awards under the 2025 Equity Incentive Plan. If terminated without cause, he is eligible for six months of salary, a pro rata bonus for the year of termination, partial acceleration of time-based equity vesting over the next six months, and COBRA premium reimbursement during the severance period, subject to a release and restrictive covenants.
Chief Operating Officer William Smith will receive a $330,000 base salary, a 20% target bonus and equity award eligibility under the same plan. If his employment ends without cause, his agreement mirrors Thrasher’s in most respects, but instead of COBRA reimbursements it provides continuation of benefits required under Canadian law and extended group health and dental coverage for up to six months, or until he joins another employer plan.
Chief Technology Officer and director David LeBlanc will receive a $250,000 base salary, a 20% target bonus and equity award eligibility, with severance and post-termination non-compete and non-solicitation terms aligned to Smith’s. Overall, the changes formalize compensation and severance terms while adding six-month restrictive covenant periods for these executives.
Terrestrial Energy Inc. updated employment agreements for three senior executives, clarifying pay, bonuses, equity eligibility and severance protections.
Chief Financial Officer Brian Thrasher will receive a $350,000 base salary, a target bonus equal to 43% of salary, and potential equity awards under the 2025 Equity Incentive Plan. If terminated without cause, he is eligible for six months of salary, a pro rata bonus for the year of termination, partial acceleration of time-based equity vesting over the next six months, and COBRA premium reimbursement during the severance period, subject to a release and restrictive covenants.
Chief Operating Officer William Smith will receive a $330,000 base salary, a 20% target bonus and equity award eligibility under the same plan. If his employment ends without cause, his agreement mirrors Thrasher’s in most respects, but instead of COBRA reimbursements it provides continuation of benefits required under Canadian law and extended group health and dental coverage for up to six months, or until he joins another employer plan.
Chief Technology Officer and director David LeBlanc will receive a $250,000 base salary, a 20% target bonus and equity award eligibility, with severance and post-termination non-compete and non-solicitation terms aligned to Smith’s. Overall, the changes formalize compensation and severance terms while adding six-month restrictive covenant periods for these executives.
Terrestrial Energy Inc. reported that its General Counsel, Steven M. Millsap, received a grant of 49,917 restricted stock units (RSUs). Each RSU represents a contingent right to acquire one share of common stock.
The RSUs were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan. They vest in one‑third installments on each of the first, second and third anniversaries of the grant date, conditioned on Mr. Millsap’s continued service with the company. After this award, he holds 49,917 RSUs directly.
Terrestrial Energy Inc. reported that its General Counsel, Steven M. Millsap, received a grant of 49,917 restricted stock units (RSUs). Each RSU represents a contingent right to acquire one share of common stock.
The RSUs were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan. They vest in one‑third installments on each of the first, second and third anniversaries of the grant date, conditioned on Mr. Millsap’s continued service with the company. After this award, he holds 49,917 RSUs directly.
Thrasher Brian Patrick reported acquisition or exercise transactions in this Form 4 filing.
Terrestrial Energy Inc. Chief Financial Officer Brian Patrick Thrasher received new equity awards as part of his compensation. He was granted 49,917 restricted stock units, each representing a contingent right to one share of common stock, and 58,236 stock options to buy common shares at $6.34 per share.
The restricted stock units and options were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan. Both awards vest in one-third increments on each of the first, second, and third anniversaries of the grant date, conditioned on his continued service with the company. No open-market purchases or sales were reported in this filing.
Thrasher Brian Patrick reported acquisition or exercise transactions in this Form 4 filing.
Terrestrial Energy Inc. Chief Financial Officer Brian Patrick Thrasher received new equity awards as part of his compensation. He was granted 49,917 restricted stock units, each representing a contingent right to one share of common stock, and 58,236 stock options to buy common shares at $6.34 per share.
The restricted stock units and options were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan. Both awards vest in one-third increments on each of the first, second, and third anniversaries of the grant date, conditioned on his continued service with the company. No open-market purchases or sales were reported in this filing.
Terrestrial Energy Inc. Chief Operating Officer William F. Smith received a grant of stock options covering 32,787 shares of Common Stock. These options were awarded at an exercise price of $6.34 per share and expire on April 12, 2036.
The options were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan and vest in three equal annual installments on each of the first, second and third anniversaries of the grant date, contingent on his continued service. Following this grant, he holds 32,787 stock options directly.
Terrestrial Energy Inc. Chief Operating Officer William F. Smith received a grant of stock options covering 32,787 shares of Common Stock. These options were awarded at an exercise price of $6.34 per share and expire on April 12, 2036.
The options were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan and vest in three equal annual installments on each of the first, second and third anniversaries of the grant date, contingent on his continued service. Following this grant, he holds 32,787 stock options directly.
Terrestrial Energy Inc. Chief Technology Officer David Michael LeBlanc received a grant of 32,787 stock options, each with an exercise price of $6.34 per share, giving him the right to buy common stock at that price.
The options were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan and vest in one-third increments on each of the first, second and third anniversaries of the grant date, subject to his continued service. After this filing, he reports 5,981 common shares held directly and 13,731 common shares held indirectly through an entity.
Terrestrial Energy Inc. Chief Technology Officer David Michael LeBlanc received a grant of 32,787 stock options, each with an exercise price of $6.34 per share, giving him the right to buy common stock at that price.
The options were granted under the Terrestrial Energy Inc. 2025 Equity Incentive Plan and vest in one-third increments on each of the first, second and third anniversaries of the grant date, subject to his continued service. After this filing, he reports 5,981 common shares held directly and 13,731 common shares held indirectly through an entity.
Terrestrial Energy Inc. files its annual report describing its transition from SPAC HCM II Acquisition Corp. into a holding company focused on commercializing its Integral Molten Salt Reactor (IMSR) advanced nuclear plant through subsidiary Terrestrial Energy Development Inc.
The company targets first IMSR commercial operations around 2034, aiming to serve a serviceable addressable market it estimates at over $1.4 trillion in OECD countries, rising to $1.9 trillion by 2050. Its IMSR Plant is designed to supply 822 MW (net) thermal and 390 MW (net) electricity at 585°C with about 44% net efficiency, a 56‑year operating life, and seven‑year core replacement cycles.
Terrestrial Energy reports an accumulated deficit of $124.6 million as of December 31, 2025 and notes additional capital raises of $36.7 million since December 31, 2024 plus $292 million of gross proceeds from its business combination. It highlights regulatory progress, including completion of the Canadian Vendor Design Review with “no fundamental barriers to licensing” and ongoing U.S. NRC pre‑application work, as well as selection for a U.S. DOE advanced reactor pilot program and a pipeline of more than ten early‑stage IMSR projects.
Terrestrial Energy Inc. files its annual report describing its transition from SPAC HCM II Acquisition Corp. into a holding company focused on commercializing its Integral Molten Salt Reactor (IMSR) advanced nuclear plant through subsidiary Terrestrial Energy Development Inc.
The company targets first IMSR commercial operations around 2034, aiming to serve a serviceable addressable market it estimates at over $1.4 trillion in OECD countries, rising to $1.9 trillion by 2050. Its IMSR Plant is designed to supply 822 MW (net) thermal and 390 MW (net) electricity at 585°C with about 44% net efficiency, a 56‑year operating life, and seven‑year core replacement cycles.
Terrestrial Energy reports an accumulated deficit of $124.6 million as of December 31, 2025 and notes additional capital raises of $36.7 million since December 31, 2024 plus $292 million of gross proceeds from its business combination. It highlights regulatory progress, including completion of the Canadian Vendor Design Review with “no fundamental barriers to licensing” and ongoing U.S. NRC pre‑application work, as well as selection for a U.S. DOE advanced reactor pilot program and a pipeline of more than ten early‑stage IMSR projects.