ASP Isotopes Inc. Announces Pricing of Public Offering of Common Stock

On November 1, 2024, ASP Isotopes Inc. (NASDAQ: ASPI) disclosed in a Form 8-K filing that the company has entered into an underwriting agreement with Canaccord Genuity LLC for an underwritten public offering of 2,395,000 shares of common stock. The pricing of the offering is set at $6.75 per share, with the underwriter agreeing to purchase the shares at $6.3787 per share. Additionally, an option was granted to the Underwriter to purchase up to an additional 359,250 shares of Common Stock at the same price.

The Company anticipates that the net proceeds from the offering, estimated to be around $17.1 million, will be used for general corporate purposes. These purposes include working capital, operating expenses, and capital expenditures, namely to accelerate the construction of enrichment facilities in South Africa and Iceland. The Offering is expected to close on or about November 4, 2024, subject to customary closing conditions.

The Offering is being conducted under a prospectus supplement dated November 1, 2024, and is part of the registration statement on Form S-3 filed with the U.S. Securities and Exchange Commission, which became effective on June 12, 2024. The Company’s announcement also included details of customary conditions, indemnification obligations, and termination provisions outlined in the Underwriting Agreement.

Alongside the Offering, ASP Isotopes issued a press release on October 31, 2024, proposing the Offering, followed by another release on November 1, 2024, announcing the pricing of the Offering.

Investors and stakeholders are advised that the information presented in this report, such as the expected net proceeds and the closing date of the Offering, are subject to various risks and uncertainties as indicated in the Company’s filings. Forward-looking statements contained in the report are based on current information and caution is advised in relying on them. ASP Isotopes commits to updating or revising any forward-looking statements as necessary.

This announcement signifies ASP Isotopes’ strategic move in the financial landscape, aligning with its corporate objectives and advancing its growth trajectory.

The full 8-K filing and associated exhibits are available for review on the SEC’s website and further information can be obtained directly from the Company or authorized intermediaries.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ASP Isotopes’s 8K filing here.

ASP Isotopes Company Profile

ASP Isotopes Inc, a development stage advanced materials company, focuses on the production, distribution, marketing, and sale of isotopes. It engages in the production and commercialization of Molybdenum-100, a non-radioactive isotope for the medical industry; Carbon-14; and Silicon-28. The company is also developing Quantum Enrichment technology to produce Ytterbium-176, Nickel-64, Lithium 6, Lithium7, and Uranium-235.