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Nano Nuclear Agrees to $400 Million Sale of 8.49 Million Shares as Stock Falls

The deal would lift cash to about $600 million to fund KRONOS microreactor licensing and development.

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Overview

  • The oversubscribed private placement is expected to close on or about Oct. 10, subject to customary conditions, according to the company.
  • NANO Nuclear said the shares were priced at the market under Nasdaq rules, while some outlets reported a $47-per-share reference.
  • Shares fell nearly 13% on Wednesday after the financing disclosure, with one report citing a 16.9% drop to $47.04 at the close.
  • Proceeds are earmarked to advance KRONOS MMR development and regulatory work, continue other microreactor projects, pursue potential acquisitions, and support general corporate needs.
  • Separately, the company announced a Chicagoland manufacturing and R&D hub backed by $6.8 million in REV Illinois incentives, a planned investment of over $12 million, and 50 new jobs in collaboration with the University of Illinois.