ASP Isotopes Inc. (NASDAQ: ASPI) has announced the pricing of an underwritten registered direct offering of 7,500,000 shares of its common stock at a price of $8.00 per share, resulting in expected gross proceeds of approximately $60.0 million. The offering, expected to close on or about July 25, 2025, is being made to a single fundamental institutional investor. Cantor and Canaccord Genuity acted as joint book-running managers for the offering, while Ocean Wall Limited served as the financial advisor.
The net proceeds from the offering are anticipated to be used for general corporate purposes, including working capital, operating expenses, and capital expenditures. The offering is being conducted pursuant to a shelf registration statement on Form S-3 that was previously filed with and declared effective by the Securities and Exchange Commission (SEC), as well as a related registration statement filed with the SEC pursuant to Rule 462(b) under the Securities Act of 1933.
ASP Isotopes Inc. is a development stage advanced materials company focused on the production of isotopes for use in various industries. The company's proprietary technology, the aerodynamic separation process (ASP technology), is employed for producing and commercializing highly enriched isotopes for the healthcare and technology sectors. Additionally, the company plans to enrich isotopes for the nuclear energy sector using quantum enrichment technology.
The company's isotope enrichment facilities in Pretoria, South Africa, are dedicated to enriching isotopes of elements with a low atomic mass. There is a growing demand for isotopes such as silicon-28 for quantum computing, 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 ASP technology is stated to be ideal for enriching low and heavy atomic mass molecules.
No further information on the financial metrics or changes since the last period were provided in the press release. Following these announcements, the company's shares moved 7.24%, and are now trading at a price of $10.00. Check out the company's full 8-K submission here.
