US-based nuclear energy and technology company NANO Nuclear Energy has completed its previously announced private placement of 3.8 million shares of common stock at $27 per share for raising gross proceeds of approximately $105m.
The net proceeds expected for NANO Nuclear are around $99m, after deducting offering expenses.
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The infusion of capital raises NANO Nuclear’s cash position above $210m. These funds will enable the company to accelerate the development of its micro-nuclear reactors.
The company also plans to expand its nuclear energy-related businesses, pursue strategic acquisitions and propel its growth trajectory towards generating its initial revenue.
Primary investors in the private placement included institutional entities, including a globally recognised investment manager and a mutual fund focused on long-term investments.
NANO Nuclear Energy Founder and Chairman Jay Yu stated: “This achievement was made possible through the participation of well-known, long-term fundamental institutional investors who understand not only the nuclear energy renaissance we are participating in, but the specific potential for NANO Nuclear’s technologies and business plans.
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By GlobalData“We expect this capital will accelerate our near and longer-term valuation catalysts, particularly given the high technology readiness level of our KRONOS MMR microreactor (being developed in conjunction with University of Illinois Urbana-Champaign) and our planned commencement of geological site characterisation activities, including subsurface drilling investigations, for this reactor, which would be first research microreactor built on campus grounds in the US by an advanced reactor company. These activities will lead to the submission of our KRONOS MMR construction permit applications to the Nuclear Regulatory Commission thereafter.”
Titan Partners Group, a division of American Capital Partners, served as the exclusive placement agent for the transaction. Legal counsel was provided by Ellenoff Grossman & Schole for NANO Nuclear, and Lucosky Brookman for the placement agent.
NANO Nuclear has committed to filing a registration statement with the US Securities and Exchange Commission by 10 June 2025 for the resale of the shares issued in the private placement.
