ASP Isotopes Announces Private Placement of Approximately $8 Million Shares of Common Stock, Priced “At the Market” Under NASDAQ Rules
Summary
ASP Isotopes Announces Private Placement of Approximately $8 Million Shares of Common Stock, Priced At the Market Under NASDAQ RulesInvestors Include Well Known Uranium and Critical Resource Investor Tees River, through its Tees River Critical Resources Fund and Members of the BoardWASHINGTON, Oct. 09, 2023 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. (NASDAQ:ASPI) ("ASPI", the "Company", "us", "we" or "our"), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes for use in multiple industries, today announced that it has entered into a definitive securities purchase agreement with certain institutional and other accredited investors, under which the Company agreed to issue an aggregate of approximately 9 million shares of its common stock at a purchase price of $0.9105 per share in a private placement transaction. As a result, at the closing of the transaction, Tees River Critical Resources Fund is expected to have a total ownership of approximately 14% of the issued and outstanding shares of common stock. In addition, multiple members of the Companys board of directors are participating in the transaction.Paul Mann, Chairman and CEO of ASP Isotopes Inc., said, We are delighted to welcome the Tees River Fund as a strategic institutional shareholder in this placement. For more information, please visit www.aspisotopes.com.Ocean Wall was established in 2019, by Nick Lawson and Ian Ross, to provide a traditional, trustworthy and comprehensive advisory business for the very best in class managers and companies involved in sectors or industries where we have conviction on the underlying economics. Unless otherwise noted, statements as to our potential market position relative to other companies are approximated and based on third-party data and internal analysis and estimates as of the date of this press release.
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