IMSR on Nasdaq

Terrestrial Energy Inc. /DE/

American fabricated plate work company that raised $85,000 in 2026 (SEC Form D).

Price unavailable

Last updated Oct 18, 2026.

Overview

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TickerIMSR on Nasdaq
IndustryFabricated Plate Work (Boiler Shops)
HeadquartersDE
Incorporated inDE²
Business address2730 W. Tyvola Road, Suite 100, Charlotte, Nc 28217²
Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-4168.8%Operating margin³

-4624.6%Net margin³

-$8.8MFree cash flow³

Where the money goes

Where each dollar of revenue went, fiscal 2024

Research and development

Research and development100¢$5.2M
Income tax0¢$21.0K

Out of $248.4K in revenue.³ The company lost money this year.

Financial statements

Every line of the income statement as filed: the last 2 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31
Engineering services revenue		$248.4K
Research and development costs	$9.8M	$5.2M
General and administrative	$14.3M	$4.2M
Depreciation and amortization	$1.2M	$1.3M
Total Operating Expenses	$25.2M	$10.6M
OPERATING LOSS	-$25.2M	-$10.4M
Government grants	$323.5K	$708.0K
Loss on extinguishment of debt		-$1.2M
Interest and dividend income	$1.3M	$59.9K
Foreign exchange gain (loss)	-$57.2K	$617.4K
OTHER (EXPENSE) INCOME	-$2.8M	-$1.1M
Net loss before income tax	-$28.0M	-$11.5M
Income tax expense	-$17.9K	-$21.0K
Net loss	-$28.0M	-$11.5M
Loss per common share, basic (in dollars per share)	-$0.39	-$0.19
Loss per common share, diluted (in dollars per share)	-$0.39	-$0.19
Weighted-Average Shares of Common Shares Outstanding, Basic (in shares)	71.6M shares	60.4M shares
Weighted-Average Shares of Common Shares Outstanding, Diluted (in shares)	71.6M shares	60.4M shares
Foreign currency translation adjustments	-$260.7K	$395.5K
Change in unrealized gains on short term investments	$1.1M
Comprehensive loss	-$27.1M	-$11.1M

Shareholders’ equity³⁶-$10.3M in 2024+111% since 2023

Cash³$3.0M in 2024−34% since 2023

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.³

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$97.2M	$3.0M
Short-Term Investments	$200.6M
Prepaid expenses and other current assets	$1.8M	$270.1K
Total current assets	$299.6M	$3.3M
Property and equipment, net	$834.8K	$770.5K
Intangible assets, net	$707.7K	$617.0K
Right-of-use assets	$1.8M	$622.5K
Other assets	$63.6K	$29.7K
Total Assets	$303.0M	$5.3M
Accounts payable and accrued expenses	$5.5M	$748.9K
Operating lease liabilities, current	$383.2K	$114.5K
Finance lease liabilities, current	$33.4K	$140.8K
Related party advance (Note 12)		$100.0K
Total current liabilities	$5.9M	$1.1M
Operating lease liabilities, noncurrent	$1.6M	$598.5K
Finance lease liabilities, noncurrent	$56.0K	$49.0K
Deferred tax liabilities, net		$666.0K
Total liabilities	$7.6M	$18.8M
Common shares, $0.0001 par value; 500,000,000 authorized shares; 81,771,422 and 39,159,901 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$8.2K	$3.9K
Exchangeable shares, $0.0001 par value; 24,011,017 shares issued and outstanding as of December 31, 2025 and December 31, 2024	$2.4K	$2.4K
Additional paid-in-capital	$418.8M	$82.8M
Accumulated deficit	-$124.6M	-$96.6M
Accumulated other comprehensive income	$1.2M	$337.2K
Total stockholders' equity (deficit)	$295.4M	-$13.5M	-$4.9M
Total liabilities and stockholders' equity (deficit)	$303.0M	$5.3M
Common shares, par value (in dollars per share)	$0.00	$0.00
Common stock, number of shares authorized	500.0M shares	500.0M shares
Common stock, shares issued	81.8M shares	39.2M shares
Common stock, shares outstanding	81.8M shares	39.2M shares
Exchangeable shares, par value (in dollars per share)	$0.00	$0.00
Exchangeable shares, shares issued	24.0M shares	24.0M shares
Exchangeable shares, share outstanding	24.0M shares	24.0M shares

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$97.2M	$3.0M
Short-Term Investments	$200.6M
Prepaid expenses and other current assets	$1.8M	$270.1K
Total current assets	$299.6M	$3.3M
Property and equipment, net	$834.8K	$770.5K
Intangible assets, net	$707.7K	$617.0K
Right-of-use assets	$1.8M	$622.5K
Other assets	$63.6K	$29.7K
Total Assets	$303.0M	$5.3M
Accounts payable and accrued expenses	$5.5M	$748.9K
Operating lease liabilities, current	$383.2K	$114.5K
Finance lease liabilities, current	$33.4K	$140.8K
Related party advance (Note 12)		$100.0K
Total current liabilities	$5.9M	$1.1M
Operating lease liabilities, noncurrent	$1.6M	$598.5K
Finance lease liabilities, noncurrent	$56.0K	$49.0K
Deferred tax liabilities, net		$666.0K
Total liabilities	$7.6M	$18.8M
Common shares, $0.0001 par value; 500,000,000 authorized shares; 81,771,422 and 39,159,901 shares issued and outstanding as of December 31, 2025 and 2024, respectively	$8.2K	$3.9K
Exchangeable shares, $0.0001 par value; 24,011,017 shares issued and outstanding as of December 31, 2025 and December 31, 2024	$2.4K	$2.4K
Additional paid-in-capital	$418.8M	$82.8M
Accumulated deficit	-$124.6M	-$96.6M
Accumulated other comprehensive income	$1.2M	$337.2K
Total stockholders' equity (deficit)	$295.4M	-$13.5M	-$4.9M
Total liabilities and stockholders' equity (deficit)	$303.0M	$5.3M
Common shares, par value (in dollars per share)	$0.00	$0.00
Common stock, number of shares authorized	500.0M shares	500.0M shares
Common stock, shares issued	81.8M shares	39.2M shares
Common stock, shares outstanding	81.8M shares	39.2M shares
Exchangeable shares, par value (in dollars per share)	$0.00	$0.00
Exchangeable shares, shares issued	24.0M shares	24.0M shares
Exchangeable shares, share outstanding	24.0M shares	24.0M shares

Every line of the cash flow as filed: the last 2 fiscal years, latest first.³

Period ending	2025-12-31	2024-12-31
Net loss	-$28.0M	-$11.5M
Depreciation and amortization	$1.2M	$1.3M
Loss on extinguishment of debt		$1.2M
Amortization of debt discount	$2.1M	$802.6K
Stock-based compensation	$3.1M	$670.2K
Unrealized foreign currency transaction gain	-$807.2K	-$812.8K
Noncash lease expense	$471.4K	$152.1K
Deferred income taxes	$15.4K	-$15.4K
Accounts receivable		$19.2K
Prepaid expenses and other current assets	-$1.8M	$166.3K
Accounts payable and accrued expenses	$5.4M	-$196.3K
Operating lease payments	-$328.5K	-$133.5K
Net cash used in operating activities	-$16.5M	-$8.2M
Purchases of intangible assets	-$86.2K	-$54.4K
Purchases of property and equipment	-$1.1M	-$607.9K
Purchase of short-term investments	-$199.5M
Net cash used in investing activities	-$200.6M	-$662.3K
Proceeds from Series A-1 preferred shares issuance	$25.8M
Proceeds from the exercise of stock options for common shares	$136
Proceeds from warrant exercise for common shares	$4.5M
Proceeds from issuance of shares to PIPE investors	$49.5M
Proceeds from merger financing	$243.1M
Payment of merger and recapitalization related transaction costs	-$22.3M
Proceeds from related party advances		$100.0K
Repayment of finance lease liabilities	-$149.1K	-$58.7K
Net cash provided by financing activities	$311.4M	$7.3M
Effect of exchange rate changes on cash and cash equivalents	-$140.7K	$32.2K
Increase (decrease) in cash and cash equivalents during the year	$94.1M	-$1.6M
Interest paid		$514.4K
Conversion of convertible notes to common shares	$29.8M
Initial recognition of finance leases	$42.6K
Recognition of warrants in connection with convertible notes, net of tax	$2.6M	$2.0M
Related party debt extinguishment		$202.2K
Acquisition of non-controlling interest		$534.6K

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Leadership

Who has led Terrestrial Energy Inc. /DE/, and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

Shawn Matthews2024

Chief financial officer

2025

Chief executive officerSimon Irish Oct 30, 2025 to now⁷
Chief executive officerShawn Matthews Aug 15, 2024 to Aug 20, 2024⁸
ChairShawn Matthews Aug 15, 2024 to Aug 20, 2024⁸
Chief financial officerBrian Patrick Thrasher Nov 7, 2025 to now⁹
Chief financial officerSteven Bischoff Aug 15, 2024 to Aug 15, 2024¹⁰

Board members and other officers (13)

EVP, EngineeringPamela Beth Cowan Jul 31, 2026 to now¹¹
GC, Sec'y & Chief Comp. Off'rSteven M. Millsap Nov 7, 2025 to now¹²
Board memberShawn Matthews Oct 30, 2025 to now¹³
Board memberSimon Irish Oct 30, 2025 to now⁷
Board memberCharles G. Pardee Nov 7, 2025 to now¹⁴
Board memberDavid John Hill Nov 7, 2025 to now¹⁵
Board memberFrederick W. Buckman Nov 7, 2025 to now¹⁶
Board memberJohn Hugh Macdiarmid Nov 7, 2025 to now¹⁷
Board memberRobert Wood Jones Nov 7, 2025 to now¹⁸
Board memberJacob Loveless Aug 15, 2024 to Aug 20, 2024¹⁹
Board memberMichael J. Connor Aug 15, 2024 to Aug 20, 2024²⁰
Board memberSteven Bischoff Aug 15, 2024 to Aug 15, 2024¹⁰
General counselSteven M. Millsap Apr 14, 2026 to now²¹

Former names

HCM II Acquisition Corp.Apr 26, 2024 to Oct 29, 2025²

Timeline

Oct 30, 2025New chief executive Simon Irish becomes CEO⁷
Aug 15, 2024New chief executive Shawn Matthews becomes CEO⁸

Filings

176 filings to the SEC since October 2021: 3 annual reports, 9 quarterly reports, 22 major events, 47 insider forms, 27 large holders, 1 private raises, 67 other. The latest 20:

Oct 15, 20264 EDGAR
Oct 14, 20264 EDGAR
Oct 13, 20264 EDGAR
Aug 14, 2026424B3 EDGAR
Aug 11, 202610-Q EDGAR
Aug 11, 20268-K EDGAR
Jul 31, 20268-K EDGAR
Jul 31, 20264 EDGAR
Jul 31, 20263 EDGAR
Jul 28, 20268-K EDGAR
Jul 27, 20264 EDGAR
Jul 27, 20263 EDGAR
Jul 21, 20268-K EDGAR
Jul 17, 20268-K EDGAR
Jun 12, 20268-K EDGAR
Jun 11, 2026EFFECT EDGAR
Jun 5, 2026POS AM EDGAR
May 19, 2026S-8 EDGAR
May 14, 2026424B3 EDGAR
May 14, 2026424B3 EDGAR

The 176 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 27 such filings since October 2021, the latest 10:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

Mar 19, 2026Raised $85,320 in a private offering of equity Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Vanguard Capital Management LLC	3,414,196	$24.2M	0.0%	+2,110,744
Exchange Traded Concepts, LLC	2,160,074	$15.3M	0.1%	+68,913
UBS Group AG	1,772,173	$12.5M	0.0%	+1,278,596
BlackRock, Inc.	1,074,524	$7.6M	0.0%	−46,361
Jpmorgan Chase & Co	966,797	$6.8M	0.0%	−106,276
Geode Capital Management, LLC	693,934	$4.9M	0.0%	+34,546
LMR Partners LLP	690,702	$4.9M	0.0%	No change
D. E. Shaw & Co., Inc.	667,968	$4.7M	0.0%	−546,809
Hudson Bay Capital Management LP	589,293	$4.2M	0.0%	+137,006
Susquehanna International Group, Llp	571,832	$4.0M	0.0%	+241,556
WINTON GROUP Ltd	504,000	$3.6M	0.1%	+7,700
Morgan Stanley	412,815	$2.9M	0.0%	+127,266
Verition Fund Management LLC	374,958	$2.7M	0.0%	−70,000
Vanguard Fiduciary Trust Co	365,772	$2.6M	0.0%	+65,365
Vennlight Capital Management, LP	353,010	$2.5M	1.7%	−222,489
State Street Corp	346,696	$2.5M	0.0%	+1,176
Charles Schwab Investment Management Inc	333,599	$2.4M	0.0%	−4,392
Highbridge Capital Management LLC	244,000	$1.7M	0.1%	New
Jane Street Group, LLC	240,719	$1.7M	0.0%	New
Alyeska Investment Group, L.P.	222,000	$1.6M	0.0%	−500,000
Renaissance Technologies LLC	183,800	$1.3M	0.0%	−224,100
Creek Drive Management Group LLC	175,000	$1.2M	0.8%	−155,000
CastleKnight Management LP	165,400	$1.2M	0.0%	+104,700
Shay Capital LLC	134,539	$952.5K	0.1%	+16,453
Northern Trust Corp	126,539	$895.9K	0.0%	+2,002

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARTerrestrial Energy Inc. /DE/ filings on SEC EDGAR
2
SEC EDGARTerrestrial Energy Inc. /DE/ filings on SEC EDGAR
3
SEC EDGARTerrestrial Energy Inc. /DE/ 10-K for fiscal 2024
4
SEC EDGARTerrestrial Energy Inc. /DE/ 10-Q for fiscal 2026
5
SEC EDGARTerrestrial Energy Inc. /DE/ 10-Q for fiscal 2026
6
SEC EDGARTerrestrial Energy Inc. /DE/ 10-K for fiscal 2024
7
SEC EDGARSimon Irish, Chief executive officer
8
SEC EDGARShawn Matthews, Chief executive officer
9
SEC EDGARBrian Patrick Thrasher, Chief financial officer
10
SEC EDGARSteven Bischoff, Chief financial officer
11
SEC EDGARPamela Beth Cowan, EVP, Engineering
12
SEC EDGARSteven M. Millsap, GC, Sec'y & Chief Comp. Off'r
13
SEC EDGARShawn Matthews, Board member
14
SEC EDGARCharles G. Pardee, Board member
15
SEC EDGARDavid John Hill, Board member
16
SEC EDGARFrederick W. Buckman, Board member
17
SEC EDGARJohn Hugh Macdiarmid, Board member
18
SEC EDGARRobert Wood Jones, Board member
19
SEC EDGARJacob Loveless, Board member
20
SEC EDGARMichael J. Connor, Board member
21
SEC EDGARSteven M. Millsap, General counsel