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Investing.com -- NANO Nuclear Energy Inc. (NASDAQ:NNE) stock tumbled 9% on Wednesday after the advanced nuclear energy company announced a $400 million private placement of common stock.
The company has entered into securities purchase agreements with institutional investors for 8,490,767 shares in an oversubscribed offering priced at market under Nasdaq rules. The private placement is expected to close around October 10, 2025, subject to customary closing conditions.
NANO Nuclear plans to use the proceeds to advance development, construction, and regulatory licensing for its lead micro nuclear reactor program, the KRONOS MMR Energy System. Funds will also support the company’s other micro reactor projects, nuclear energy business lines, potential strategic acquisitions, and general corporate purposes.
Titan Partners Group, a division of American Capital Partners, is serving as the sole placement agent for the offering.
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