Investing.com -- Deep Fission's stock climbed 15.1% to $18.41 on Thursday during its first day of trading on the Nasdaq after completing a scaled-back initial public offering.

The nuclear reactor developer's shares opened at the IPO price of $16 per share. The company sold 2.5 million shares at the low end of its latest marketed range of $16 to $18 per share, raising $40 million.

The Berkeley, California-based firm had initially planned to sell 6 million shares priced between $24 and $26 each.

Deep Fission is developing a small modular reactor called the Gravity Reactor, which is designed to operate in boreholes one mile underground.

Benchmark and Seaport Global Securities served as joint lead book-running managers for the offering. William Blair, Stifel, and Canaccord Genuity were initially listed as joint lead book-running managers when the IPO launched but later dropped from the underwriting lineup.