Boeing secures $883 million Army contract for cargo support services
RESTON, VA—Lightbridge Corporation (NASDAQ:LTBR), a management consulting services company, has amended its at-the-market equity offering arrangement, according to a recent filing with the Securities and Exchange Commission (SEC). The company, which operates in the services-management consulting services industry under the SIC code 8742, has been working with Stifel, Nicolaus & Company, Incorporated as its sales agent to issue and sell shares of its common stock.
The original agreement with Stifel was established on May 28, 2019, and has undergone amendments on April 9, 2021, and recently on May 8, 2024. Lightbridge's sales of common stock through Stifel are conducted following the “at-the-market” equity offering methodology as defined in Rule 415 under the Securities Act of 1933.
These transactions are facilitated under Lightbridge’s effective shelf registration statement on Form S-3 (File No. 333-278388) filed on March 29, 2024, and declared effective by the SEC on April 19, 2024. The offering is detailed in the base prospectus filed as part of the registration statement and further amended by the prospectus supplement dated May 10, 2024, and July 19, 2024.
The purpose of this SEC filing and the inclusion of the exhibits is to incorporate by reference into the Registration Statement the legal opinion of Gary R. Henrie, Esq. as well as his consent (Exhibit 5.1 and Exhibit 23.1 respectively).
The company, formerly known as Thorium Power, Ltd., and prior to that as NOVASTAR RESOURCES LTD., is headquartered in Reston, Virginia. The SEC filing also confirms that Seth Grae is the President and Chief Executive Officer of Lightbridge Corporation.
In other recent news, Lightbridge Corporation reported its Q1 2024 financials, revealing a net loss of $2.8 million, despite holding a strong working capital position of $27.4 million. The company highlighted advancements in its nuclear fuel technology and strategic growth plans, aligning with the anticipated tripling of global nuclear power capacity by 2050. Lightbridge showcased its new extrusion process for nuclear fuel material at Idaho National Laboratory and underscored its involvement in projects with RATEN ICN and Centrus Energy (NYSE:LEU).
The company also announced the retirement of Chairman Thomas Graham Jr., acknowledging his significant contributions. Lightbridge is seeking government funding and strategic partnerships to support its research and development and long-term objectives. Despite its financial loss this quarter, the company remains committed to contributing to the global expansion of the nuclear power industry. These developments underscore Lightbridge's commitment to maintaining its position within the growing nuclear sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.