ASP Isotopes falls on planned stock offering amid nuclear deal with Gates-backed TerraPower

ASP Isotopes

31/10/2024 20:36

Oct 31 - * ASP Isotopes'  ASPI.O  shares fall ~11.6% to
$6.19 in extended trading as advanced materials firm looks to
raise equity
** Washington, D.C.-based firm commences stock offering without
disclosing deal size
** Early Weds, Bill Gates-backed reactor co TerraPower and ASPI
struck a deal to produce nuclear fuel currently only made in
commercial amounts in Russia
    ** Shares on Weds jumped 20%, and added 1.3% on Thurs for
record high close of $6.99
    ** ASPI has 68.4 mln shares outstanding, and ~43 mln shares
of public float, per LSEG
** Co plans to use net offering proceeds for working capital,
opex and capex, including accelerating construction of
enrichment facilities in South Africa and Iceland, per the 
    ** YTD, shares have nearly quadrupled
  
    ** Canaccord Genuity sole bookrunner for offering

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))