ASP Isotopes falls on planned stock offering amid nuclear deal with Gates-backed TerraPower
Oct 31 -* ASP Isotopes' ASPI.O shares fall ~11.6% to $6.19 in extended trading as advanced materials firm looks to raise equity
** Washington, D.C.-based firm commences stock offering without disclosing deal size
** 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 added 1.3% on Thurs for record high close of $6.99
** ASPI has 68.4 mln shares outstanding, and ~43 mln shares of public float, per LSEG
** Co plans to use net offering proceeds for working capital, opex and capex, including accelerating construction of enrichment facilities in South Africa and Iceland, per the SEC prospectus
** YTD, shares have nearly quadrupled
** Canaccord Genuity sole bookrunner for offering
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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