ASP Isotopes Inc. Announces Pricing of $50 Million Registered Direct Offering of Common Stock

ASP Isotopes Inc. announces $50 million stock offering for corporate purposes, closing expected June 3, 2025.

Quiver AI Summary

ASP Isotopes Inc. announced a registered direct offering of 7,518,797 shares of its common stock, priced at $6.65 per share, to a single institutional investor, expecting to raise approximately $50 million in gross proceeds. The offering is set to close on June 3, 2025, pending customary conditions, with Cantor and Canaccord Genuity serving as joint book-running managers. Proceeds from this offering will be used for general corporate purposes, including working capital and funding a bridge loan agreement with Renergen. ASP Isotopes is engaged in developing advanced materials and isotope production technologies for various industries, including healthcare and nuclear energy. The company has a focus on enhancing highly enriched isotopes and operates enrichment facilities in South Africa.

Potential Positives

• ASP Isotopes Inc. successfully priced a registered direct offering of approximately $50 million, providing significant funding for general corporate purposes and strategic initiatives.
• The institutional investment indicates strong market confidence in ASP Isotopes and its business model, which could attract further investment interest.
• The funds will aid in advancing the company’s innovative technologies in isotope production, particularly in high-demand sectors such as healthcare and green energy.
• The effective shelf registration statement by the SEC demonstrates regulatory compliance and supports future capital-raising efforts.

Potential Negatives

• The company is relying on a direct equity offering to raise funds, which may dilute existing shareholders' equity and potentially impact stock price negatively.
• The purpose of the proceeds includes general corporate purposes, suggesting financial instability or a need for immediate working capital rather than growth or strategic investments.
• The press release highlights significant regulatory risks associated with their proposed acquisition of Renergen, which could impede business operations and lead to financial losses.

FAQ

What is the purpose of ASP Isotopes' recent stock offering?

The stock offering aims to raise approximately $50 million for general corporate purposes, including working capital and operational expenses.

Who managed the underwritten registered direct offering?

Cantor Fitzgerald & Co. and Canaccord Genuity acted as joint book-running managers for the offering.

When is the offering expected to close?

The offering is expected to close on or about June 3, 2025, pending customary closing conditions.

What technology does ASP Isotopes use for isotope enrichment?

ASP Isotopes employs proprietary Aerodynamic Separation Process technology for enriching isotopes.

Where are ASP Isotopes' isotope enrichment facilities located?

The company's isotope enrichment facilities are located in Pretoria, South Africa.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$ASPI Insider Trading Activity

$ASPI insiders have traded $ASPI stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.

Here’s a breakdown of recent trading of $ASPI stock by insiders over the last 6 months:

• PAUL ELLIOT MANN (Chief Executive Officer) has made 0 purchases and 3 sales selling 950,000 shares for an estimated $5,326,396.
• ROBERT AINSCOW (Chief Operating Officer) has made 0 purchases and 3 sales selling 200,000 shares for an estimated $1,121,346.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$ASPI Hedge Fund Activity

We have seen 53 institutional investors add shares of $ASPI stock to their portfolio, and 48 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• CAPITAL RESEARCH GLOBAL INVESTORS added 2,868,062 shares (+inf%) to their portfolio in Q1 2025, for an estimated $13,451,210
• CENTERBOOK PARTNERS LP removed 1,325,085 shares (-88.3%) from their portfolio in Q1 2025, for an estimated $6,214,648
• UBS GROUP AG removed 939,433 shares (-48.1%) from their portfolio in Q1 2025, for an estimated $4,405,940
• BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. removed 690,287 shares (-15.9%) from their portfolio in Q1 2025, for an estimated $3,237,446
• ROVIDA ADVISORS INC. removed 400,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $1,812,000
• NUVEEN ASSET MANAGEMENT, LLC added 359,811 shares (+672.1%) to their portfolio in Q4 2024, for an estimated $1,629,943
• PHILADELPHIA FINANCIAL MANAGEMENT OF SAN FRANCISCO, LLC added 354,517 shares (+11.2%) to their portfolio in Q1 2025, for an estimated $1,662,684

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

WASHINGTON, June 02, 2025 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes” or the “Company”), today announced the pricing of an underwritten registered direct offering of 7,518,797 shares of its common stock at a price of $6.65 per share to a single fundamental institutional investor. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $50.0 million. The offering is expected to close on or about June 3, 2025, subject to the satisfaction of customary closing conditions.

Cantor and Canaccord Genuity acted as joint book-running managers for the offering.

The net proceeds of this offering are expected to be used for general corporate purposes, including working capital, operating expenses, and capital expenditures, as well as funding the disbursement to Renergen under our bridge loan agreement with Renergen.

A shelf registration statement on Form S-3 (File No. 333-286860) relating to the offering of shares of common stock described above was declared effective by the Securities and Exchange Commission (“SEC”) on May 30, 2025. The offering is being made only by means of a prospectus supplement and the accompanying prospectus that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. When available, copies of the final prospectus supplement and accompanying prospectus relating to these securities may also be obtained by sending a request to: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com; or Canaccord Genuity LLC, Attention: Syndication Department, 1 Post Office Square, 30th Floor, Boston, MA 02109, or by email at prospectus@cgf.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About ASP Isotopes Inc.

ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. The Company employs proprietary technology, the Aerodynamic Separation Process (“ASP technology”). The Company’s initial focus is on producing and commercializing highly enriched isotopes for the healthcare and technology industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light isotopes).

There is a growing demand for isotopes such as Silicon-28, which will enable quantum computing, and Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, and Uranium-235 for green energy applications. The ASP Technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules. For more information, please visit

www.aspisotopes.com

.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements can be identified by words such as “believes,” “plans,” “anticipates,” “expects,” “estimates,” “projects,” “will,” “may,” “might,” and words of a similar nature. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside our control. Our actual results, financial condition, and events may differ materially from those indicated in the forward-looking statements based upon a number of factors. Forward-looking statements are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Therefore, you should not rely on any of these forward-looking statements. There are many important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including: the failure to obtain necessary regulatory and shareholder approvals for the proposed acquisition of Renergen; disruption from the proposed acquisition of Renergen making it more difficult to maintain business and operational relationships; significant transaction costs and unknown liabilities related to the proposed acquisition of Renergen; litigation or regulatory actions related to the proposed acquisition of Renergen; the outcomes of various strategies and projects undertaken by the Company; the potential impact of laws or government regulations or policies in South Africa, the United Kingdom or elsewhere; our reliance on the efforts of third parties; our ability to complete the proposed the construction and commissioning of our enrichment plant(s) or to commercialize isotopes using the ASP technology or the Quantum Enrichment Process; our ability to obtain regulatory approvals for the production and distribution of isotopes; the financial terms of any current and future commercial arrangements; our ability to complete certain transactions and realize anticipated benefits from acquisitions and contracts; dependence on our Intellectual Property (IP) rights, certain IP rights of third parties; the competitive nature of our industry; and the factors disclosed in Part I, Item 1A. “Risk Factors” of the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and any amendments thereto and in the company’s subsequent reports and filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. No information in this press release should be interpreted as an indication of future success, revenues, results of operation, or stock price. All forward-looking statements herein are qualified by reference to the cautionary statements set forth herein and should not be relied upon.

Contacts

Jason Assad– Investor relations


Email:

Jassad@aspisotopes.com



Telephone: 561-709-3043

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.