ASP Isotopes

Canaccord Genuity Acted as Sole Bookrunner to ASP Isotopes on its $34.5 Million Public Offering

Canaccord Genuity is pleased to announce that on July 15th, 2024, its client ASP Isotopes Inc. (“ASP Isotopes” or the “Company”) (NASDAQ: ASPI) has closed an underwritten public offering of 13,800,000 shares of its common stock, which reflects the exercise in full by the underwriter of its option to purchase up to 1,800,000 additional shares of common stock, at a public offering price of $2.50 per share, less underwriting discounts and commissions. Canaccord Genuity acted as sole bookrunner for the offering. 

The total gross proceeds to ASP Isotopes from this offering were $34.5 million before deducting underwriting discounts and commissions and offering expenses.

The Company currently intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses, and capital expenditures, including for the purpose of accelerating the construction of enrichment facilities in South Africa and Iceland.

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).