Legal Proceedings
−Removed: There are presently no pending legal proceedings
−Removed: to which the Company or any of its property is subject, or any material proceedings to which any director, officer or affiliate of the
−Removed: Company, any owner of record or beneficially of more than five percent of any class of voting securities is a party or has a material
−Removed: interest adverse to the Company, and no such proceedings are known to the Company to be threatened or contemplated against it.
−Removed: Mine Safety Disclosures.
+Added: From time to time, we may become involved in litigation, investigations, claims or legal proceedings arising in the ordinary course of business.
+Added: Litigation, investigations, claims and other legal proceedings are subject to inherent uncertainties, and an adverse outcome in one or more matters could occur and may have a material adverse effect on our business, prospects, results of operations, and financial condition.
+Added: Except as described below, we are not aware of any material pending legal proceedings to which we are a party.
+Added: In April 2025, we joined as a plaintiff, together with the State of Texas, State of Utah, State of Louisiana, State of Florida, the Arizona State Legislature (by and through the President of the Arizona Senate and the Speaker of the Arizona House of Representatives), Last Energy, Inc., and Valar Atomics Inc., in a federal lawsuit filed in the U.S.
+Added: District Court for the Eastern District of Texas against the NRC, captioned State of Texas et al.
+Added: Nuclear Regulatory Commission (Case No.
+Added: 6:24-cv-00507).The lawsuit challenges the NRC’s interpretation and application of certain licensing regulations under the AEA, including the NRC’s longstanding definition of “utilization facility.” The complaint seeks declaratory and injunctive relief requiring the NRC to revise its licensing framework and undertake new rulemaking under the APA.
+Added: The case remains in its early stages, and no substantive rulings have been issued.
+Added: We cannot predict the outcome of this proceeding or the potential impact it may have on federal or state regulatory processes applicable to advanced reactor technologies or on the timing or evaluation of any applications we may submit to the NRC.
+Added: See Item 1A, “Risk Factors” of this Annual Report.
+Added: Mine Safety Disclosure s
Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.