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ASP Isotopes Prices $210 Million Stock Offering as Shares Fall

The underwritten sale funds operations under a new shelf registration with closing targeted for Oct. 16.

Overview

  • ASP Isotopes priced 17,167,380 new shares for total gross proceeds of about $210.3 million.
  • Underwriters received a 30-day option to buy roughly $31.5 million of additional shares at the offering price.
  • Cantor Fitzgerald and Lucid Capital Markets are joint bookrunners, and all shares are being sold by the company.
  • The offering is being conducted under an SEC shelf filed Oct. 14 that became automatically effective; closing is expected Oct. 16 subject to customary conditions.
  • The company plans to use proceeds for general corporate purposes, and the stock fell sharply on dilution concerns, down about 13% Wednesday after sliding in late trading Tuesday.