Nano Nuclear Energy Inc. (NASDAQ: NNE) has announced the successful completion of an oversubscribed private placement of common stock, resulting in gross proceeds of $400 million. With an initial investment from a preeminent asset manager and the participation of several institutional investors, the company's cash position is expected to reach approximately $600 million following the closing of the offering.
The securities purchase agreements with institutional investors involve the sale of 8,490,767 shares of common stock, priced at the market under NASDAQ rules. The closing of the offering is anticipated to take place around October 10, 2025, subject to customary closing conditions.
The net proceeds from the offering will be utilized by Nano Nuclear to advance the development, construction, and regulatory licensing activities for its lead micro nuclear reactor program, the Kronos MMR™ energy system. Additionally, the funds will support the ongoing development of other microreactor projects, nuclear energy-related business lines, potential strategic acquisitions, and general corporate purposes.
Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent for the offering.
It's noteworthy that the securities issued in the private placement have not been registered under the Securities Act of 1933, and the company has agreed to file a resale registration statement with the SEC for the purpose of registering the resale of the shares of common stock issued in connection with the private placement.
Nano Nuclear Energy Inc. is a forward-looking nuclear energy company with a focus on becoming a commercially focused, diversified, and vertically integrated entity across various business lines. These include cutting-edge portable and other microreactor technologies, nuclear fuel fabrication, nuclear fuel transportation, nuclear applications for space, and nuclear industry consulting services. The company believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.
The company's subsidiaries, Advanced Fuel Transportation Inc. (AFT) and Haleu Energy Fuel Inc. (HEF), are actively involved in the transportation and fabrication of high-assay, low-enriched uranium (HALEU) fuel, positioning Nano Nuclear as a significant player in the advanced nuclear reactor industry.
Furthermore, Nano Nuclear Space Inc. (NNS), another subsidiary, is exploring potential commercial applications of the company's micronuclear reactor technology in space, focusing on applications such as the Loki MMR™ system and other power systems for extraterrestrial projects and human-sustaining environments.
With a significant infusion of capital from the successful private placement, Nano Nuclear Energy Inc. is set to further its ambitious agenda in the advanced nuclear energy and technology space, solidifying its position as a key player in the industry. Today the company's shares have moved -3.33% to a price of $45.83. Check out the company's full 8-K submission here.
