NuCube Energy, Inc. filed a Form 425 on October 20, 2026, disclosing a $25 million anchor investment from the Alaska Industrial Development and Export Authority (AIDEA) and an amendment to its business combination agreement with Launch Two Acquisition Corp. (NASDAQ:LPBB).

Key Highlights

  • $25 million investment: AIDEA agreed to purchase $25 million of Class A ordinary shares in NuCube Energy, according to the filing.
  • Price per share: The shares are priced at $9.25 per share, representing an approximately 14.5% discount to the reference price of $10.82 used to determine the exchange ratio for NuCube's capital stock in the business combination.
  • Warrant included: AIDEA receives one-half of one warrant per share, exercisable at $11.50 within 5 years.
  • Minimum Cash Condition progress: The $25 million investment will constitute a Transaction Financing and count toward the $75 million Minimum Cash Condition required for closing of the proposed business combination.
  • Agreement date: The investment agreement was signed on October 19, 2026, the same date as an amendment to NuCube's Business Combination Agreement with Launch Two.
  • Existing investors: AIDEA joins prior investors including Arizona Nuclear Ventures, Emission Reduction Corporation, and Rob Walton and Jordan Rose Walton, as disclosed in the filing.

AIDEA's $25 Million Commitment to NuCube's Microreactor Program

According to the Form 425 filing, NuCube Energy, Inc. announced that AIDEA, described in the filing as "an independently governed public corporation of the State of Alaska established by the Legislature in 1967," has agreed to invest $25 million directly in NuCube as the anchor investor in the company's current financing round. The investment is structured as a purchase of Class A ordinary shares at $9.25 per share, plus one-half of one warrant per share exercisable at $11.50 within five years. The filing notes the share price reflects an approximately 14.5% discount to the $10.82 reference price used in determining the exchange ratio for NuCube's capital stock in its pending business combination.

The filing discloses that the $25 million will count as Transaction Financing under the Business Combination Agreement between NuCube and Launch Two Acquisition Corp. (NASDAQ:LPBB), dated June 25, 2026 and amended October 19, 2026, and will apply toward the $75 million Minimum Cash Condition required for the business combination to close. NuCube's CEO Cristian Rabiti is quoted in the filing stating that "AIDEA's investment is a clear recognition and vote of confidence of our approach to making advanced nuclear energy a practical, reliable power source for remote communities and commercial operations." The filing also includes a comment from Alaska Governor Mike Dunleavy welcoming AIDEA's support for the effort.

The filing states that NuCube intends to use the proceeds to advance its NuSun™ microreactor development, manufacturing readiness, and licensing. NuCube describes its NuSun™ platform as "a solid-state, heat-pipe-cooled reactor that eliminates the coolant pumps and complex heat exchangers, as well as large pressure vessels found in conventional reactors." The filing notes that upon closing the business combination, the combined company is expected to be listed on Nasdaq, subject to satisfaction of listing requirements and other closing conditions.

What Was Disclosed

NuCube Energy filed a Form 425 disclosing a $25 million investment from AIDEA at $9.25 per share with attached warrants, an amendment to its business combination agreement with Launch Two Acquisition Corp. dated October 19, 2026, and the investment's role in satisfying the $75 million Minimum Cash Condition.