NANO Nuclear Energy Inc. announced on November 27, 2024, the closing of a private placement with three accredited institutional investors, generating gross proceeds of approximately $60 million. This financing significantly augmented NANO Nuclear’s cash on hand to over $125 million. The private placement involved the sale of 2,500,002 shares of common stock and five-year warrants to purchase an equal number of additional shares, at a combined purchase price of $24.00 per share and associated warrant.
The warrants are exercisable at $26.00 per share, providing potential for further capital infusion. This substantial cash position provides NANO Nuclear with the necessary runway to accelerate and expedite its cutting-edge microreactor technologies and auxiliary businesses. The company aims to pursue complementary acquisitions and drive growth towards initial revenue generation.
Jay Yu, Founder and Chairman of NANO Nuclear Energy, stated that the company is now positioned for rapid growth and to drive stockholder value, aiming to become a leading, diversified, and vertically integrated advanced nuclear energy company. The Benchmark Company, LLC acted as the sole placement agent for this transaction.
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