Deep Fission, Inc.

DEEP FISSION, INC. (NASDAQ: FISN) INVESTIGATION: Johnson Fistel Investigates Potential Securities Claims Following Short-Seller Report

Johnson Fistel, PLLP, a leading stockholder rights law firm, is investigating Deep Fission, Inc. (NASDAQ: FISN) on behalf of investors who may have suffered losses following a report questioning the Company’s projected funding needs and path to commercial deployment.

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Why Is Johnson Fistel Investigating Deep Fission?

In June 2026, Deep Fission completed its initial public offering of 2.5 million shares at $16.00 per share. Its prospectus estimated that, beyond its available cash and the offering’s anticipated net proceeds, the Company would need approximately $138 million in additional capital to develop, license, and commercially deploy its first commercial reactor. The prospectus also described a phased strategy intended to move toward commercialization within three years and a target construction period as short as six months for a single reactor in later deployments.

On September 24, 2026, Iceberg Research published a short-seller report drawing attention to Deep Fission’s January 2026 investor presentation. That presentation projected $261 million in spending during 2026 and 2027 and an ending cash shortfall of $237.3 million. It stated that the projection excluded as much as $750 million in development and construction costs for the first commercial projects before project-level financing became available. Deep Fission had filed the presentation with the SEC before the IPO.

Deep Fission shares closed at $6.95 on September 24, down approximately 10.9% from the prior day’s $7.80 close.

Johnson Fistel is investigating how Deep Fission developed the additional-capital estimate in its June 2026 prospectus, including how that estimate accounted for the Company’s earlier spending projections, subsequent financing, and anticipated costs and financing arrangements for its first commercial projects.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investor Rights

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. The firm also represents foreign investors who have purchased securities on U.S. exchanges.

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