ASP Isotopes Inc. has announced the pricing of an underwritten registered direct offering of 7,518,797 shares of its common stock at a price of $6.65 per share to a single fundamental institutional investor. This offering is expected to result in gross proceeds of approximately $50.0 million before deducting underwriting discounts, commissions, and offering expenses. The offering is anticipated to close on or about June 3, 2025, subject to customary closing conditions.
Cantor and Canaccord Genuity acted as joint book-running managers for the offering.
The net proceeds from the offering are expected to be used for general corporate purposes, including working capital, operating expenses, capital expenditures, and funding the disbursement to Renergen under ASP Isotopes Inc.'s bridge loan agreement with Renergen.
ASP Isotopes Inc. highlighted its focus on developing technology and processes to produce isotopes for multiple industries, with a particular emphasis on producing and commercializing highly enriched isotopes for the healthcare and technology industries. The company also plans to enrich isotopes for the nuclear energy sector using quantum enrichment technology that it is developing.
ASP Isotopes Inc. noted that there is a growing demand for isotopes such as silicon-28 for quantum computing, and molybdenum-100, molybdenum-98, zinc-68, ytterbium-176, and nickel-64 for emerging healthcare applications, as well as chlorine-37, lithium-6, and uranium-235 for green energy applications.
The company's proprietary technology, the aerodynamic separation process (ASP technology), is described as ideal for enriching low and heavy atomic mass molecules.
Additionally, a shelf registration statement on Form S-3 (file no. 333-286860) relating to the offering of shares of common stock was declared effective by the Securities and Exchange Commission (SEC) on May 30, 2025. The offering is being made only by means of a prospectus supplement and the accompanying prospectus that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale is not permitted. As a result of these announcements, the company's shares have moved -3.17% on the market, and are now trading at a price of $7.32. If you want to know more, read the company's complete 8-K report here.
