ASP Isotopes slides on $210 mln stock sale

ASP Isotopes

15/10/2025 12:50

** Shares of advanced materials firm ASP Isotopes ASPI.O down 8.2% at $12.90 before the bell as follow-on priced

** Washington, D.C.-based firm early Weds announces ~17.2 mln shares for approx $210.3 mln gross proceeds

** Offering price equates to around $12.25, nearly 13% below stock's record high close of $14.05 on Tues

** Co intends to use net offering proceeds for general purposes, including working capital, expenses and capex

** It has ~93.4 mln shares outstanding as of Oct 10, per the prospectus

** Cantor Fitzgerald and Lucid Capital Markets are joint bookrunners for offering

** ASPI shares had surged past three sessions, gaining about 59%. Stock ended 2024 at $4.53

** Just Canaccord Genuity covers ASPI with a "buy" rating and $11 PT, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))