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Reg A+TRL87.6–8.3Tier IIOpen

Palisade Modular Systems

Palisade Oswego Unit 1

Fixed-rate notes on a three-module SMR with ITAAC closure underway and twenty years of contracted offtake.

Palisade is building three 77 MWe modules on the site of a retired coal station in Oswego, New York. Module one is complete and qualified; inspections, tests, analyses and acceptance criteria are being closed against the combined license. Proceeds fund the second and third modules. Notes pay a fixed 7.25% annually with principal at year seven, secured by a first lien on the module assets and backstopped by two twenty-year power purchase agreements.

Oswego Energy Center · Oswego, NYITAAC in progressEscrow: Meridian Trust, N.A.
TRL 8 of 9, band 7.6 to 8.3, signed by Dr. Helena Vargas-Mbeki, PE, Nuclear; former NRC senior reactor analyst, on Jul 14, 2026.See the evidence it rests on

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.

$31,240,000 committed of $48,000,000

$21,400,000 released · 65% subscribed

Released to the issuerCommitted, held in escrowRemaining
Minimum
$1,000

$100 per unit

Target coupon
7.25%

Annual, fixed

Term
7 yr
Investors
2,184

Closes November 30, 2026 · 78 days remaining

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Use of proceeds

  • 52%Module two and three fabrication
  • 24%Site construction and installation
  • 12%ITAAC closure and licensing
  • 8%Working capital
  • 4%Offering expenses and platform fees

The issuer

Integral pressurized water SMR at 77 MWe per module, designed for brownfield siting at retiring coal and legacy nuclear plants. First unit under construction at Oswego.

Legal name
Palisade Modular Systems, Inc.
Entity
Delaware C-corporation
Jurisdiction
Delaware
Founded
2016

  • Ellen Ruiz-HartmannChief Executive Officer

    Twenty-two years in commercial nuclear operations, formerly site vice president at a two-unit PWR station.

  • Daniel OkonkwoChief Nuclear Officer

    Led licensing for two NRC design certification applications. Senior reactor operator license, retired.