Nano Nuclear Energy drops after $400 mln equity raise

Nano Nuclear Energy

08/10/2025 13:30

** Nano Nuclear Energy NNE.O shares down 9% at $51.55 premarket after announcing $400 mln equity raise

** New York-headquartered NNE late Tues said it agreed to sell ~8.5 mln shares to institutional investors in private placement

** Purchase price equates to about $47.11, a roughly 17% discount to stock's record high close of $56.63 on Tues

** NNE plans to use net offering proceeds to advance development, construction and regulatory licensing activities for its lead micro nuclear reactor program, Kronos MMR Energy System, continue development of other projects and nuclear energy related business lines, pursue potential acquisitions

** With ~41.58 mln shares outstanding, co has about $2.4 bln market cap through Tues

** NNE shares had risen past five sessions, gaining about 47%. Shares up 127% YTD through Tues

** Co went public in May 2024 IPO priced at $4

** 3 of 4 analysts rate the stock "buy" and 1 has "hold"; median PT is $42.50, per LSEG data

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

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