ASP Isotopes launches underwritten public offering of common stock

WASHINGTON - ASP Isotopes Inc. (NASDAQ:ASPI), whose stock has surged nearly 200% year-to-date and recently reached new 52-week highs at $14.06, announced Tuesday it has commenced an underwritten public offering of its common stock shares, subject to market conditions. According to InvestingPro data, the company’s market capitalization stands at $1.22 billion.

The advanced materials company, which focuses on isotope production technology, did not disclose the size or terms of the offering. Cantor and Lucid Capital Markets are serving as joint book-running managers for the transaction. The company’s volatile stock performance, with a beta of 3.31, suggests significant market sensitivity.

The offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission on October 14, which became effective immediately upon filing. A preliminary prospectus supplement and accompanying prospectus will be available on the SEC’s website.

ASP Isotopes develops technology for producing isotopes used in healthcare, technology, and nuclear energy sectors. The company employs its proprietary Aerodynamic Separation Process (ASP) technology at facilities in Pretoria, South Africa, focusing on enrichment of isotopes with low atomic mass.

The company is currently working on isotopes including Silicon-28 for quantum computing applications, various molybdenum isotopes for healthcare, and other elements for green energy applications.

According to the press release statement, ASP Isotopes is also developing Quantum Enrichment technology for the nuclear energy sector.

The announcement notes that the offering does not constitute a sale of securities, and no assurance can be given regarding the completion, size, or terms of the offering.

In other recent news, ASP Isotopes Inc. announced a planned public offering of its common stock, with Cantor and Lucid Capital Markets acting as joint book-running managers. The company is also undergoing a leadership change, as Paul Mann, the founder and CEO, has taken a temporary leave of absence for health reasons. Robert Ainscow, the current Chief Operating Officer, has been appointed as the Interim CEO to manage day-to-day operations. Additionally, ASP Isotopes, through its subsidiary Quantum Leap Energy LLC, acquired a controlling interest in Skyline Builders Group Holding Limited. This acquisition was completed by purchasing 1,995,000 Class B Ordinary Shares for $1,000,000, granting significant voting power to the subsidiary.

The company’s board of directors has expanded to seven members with the appointment of Ralph L. Hunter, a veteran in the nuclear industry. Hunter will serve as a Class II director and has also joined the board of managers of Quantum Leap Energy LLC. His extensive experience includes positions such as Chair of the US Civil Nuclear Trade Advisory Committee and a board role at Rolls-Royce SMR Limited. These developments reflect ASP Isotopes’ strategic moves in both leadership and business operations.

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