BUZZ-ASP Isotopes raises equity after nuclear deal with Gates-backed TerraPower; shares surge

-1.52%

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-2.84%

-0.62%

-0.24%

CF Industries Holdings, Inc. CF	77.55	-1.52%
Aspire Real Estate Investors, Inc. ASPI	5.69	0.00%
Littelfuse, Inc. LFUS	253.15	-2.84%
Dow Jones Industrial Average DJI	48114.26	-0.62%
S&P 500 index SPX	6800.26	-0.24%

** Shares of ASP Isotopes ASPI.O up 7.2% at $7.49 before the bell as advanced materials firm's follow-on offering prices

** Washington, D.C.-based firm sells ~2.4 mln shares at $6.75 for ~$16.2 mln gross proceeds

** It intends to use net offering proceeds for working capital, opex and capex, including accelerating construction of enrichment facilities in South Africa and Iceland

** Early Weds, Bill Gates-backed reactor co TerraPower and ASPI struck a deal to produce nuclear fuel currently only made in commercial amounts in Russia

** Shares on Weds jumped 20%, and rose another 1.3% on Thurs to record high close of $6.99

** ASPI has 68.4 mln shares outstanding for $478 mln market cap, and ~43 mln shares of public float, per LSEG

** Stock ended 2023 at $1.79

** Canaccord Genuity acting as sole bookrunner for offering, while Cantor Fitzgerald acting as financial advisor

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

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

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