Great Lakes Atomic
Bridgman Community Tranche
The same senior notes in $250 denominations, reserved for Michigan residents.
Bridgman lost roughly nine hundred construction jobs in 1982 and the village never recovered its tax base. This tranche is restricted to Michigan residents under Rule 147A and runs concurrently with the Reg A+ offering under Rule 152. Same seniority, same collateral, a 25 basis point premium and a $250 minimum.
Running concurrently over the same project
Rule 152 permits an issuer to run more than one offering at the same time. The same reactor backs both, on different rails, with different eligibility.
$4,128,000 committed of $6,000,000
$2,889,600 released · 69% subscribed
- Minimum
- $250
- Target coupon
- 7.20%
- Term
- 10 yr
- Investors
- 3,204
$250 per unit
Annual, fixed
Closes March 31, 2027 · 199 days remaining
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Use of proceeds
- 31%Structural assessment and remediation
- 34%Reactor vessel and primary systems
- 19%Instrumentation and controls, modern digital
- 12%Licensing and ITAAC preparation
- 4%Offering expenses and platform fees
The issuer
Completing two partially built gigawatt-class pressurised water units abandoned in the 1980s. The containment concrete was poured forty years ago and the license docket already exists.
- Legal name
- Great Lakes Atomic Power Company
- Entity
- Michigan corporation
- Jurisdiction
- Michigan
- Founded
- 2009
Charles BeaumontChief Executive Officer
Thirty years in large nuclear construction, including two completed AP1000 units.
Rosalind AchebeChief Financial Officer
Project finance for regulated utilities and independent power producers.