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ASP Isotopes Announces Closing of $5 Million Private Placement
BOCA RATON, FL / ACCESSWIRE / March 17, 2023 / ASP Isotopes Inc. (NASDAQ:ASPI) ("ASPI", the "Company", "us", "we" or "our"), an advanced materials company
About this update from Asp Isotopes Inc.
[{"type":"text","content":"BOCA RATON, FL / ACCESSWIRE / March 17, 2023 / ASP Isotopes Inc. (NASDAQ:ASPI) (\"ASPI\", the \"Company\", \"us\", \"we\" or \"our\"), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes for use in multiple industries, today announced the closing of its previously announced private placement of an aggregate of 3,164,557 shares of its common stock and warrants to purchase up to an aggregate of 3,164,557 shares of common stock, at a purchase price of $1.58 per share and accompanying warrant in a private placement. The gross proceeds to the Company from the private placement were approximately $5 million, before deducting the placement agent's fees and other offering expenses payable by the Company.H.C. Wainwright & Co. acted as the exclusive placement agent for the private placement.The warrants have an exercise price of $1.75 per share, will become exercisable six months from the date of issuance and have a term of five and one-half years following the date of issuance.The Company currently intends to use the net proceeds from the private placement for working capital and general corporate purposes.The offer and sale of the foregoing securities in the private placement were made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), or applicable state securities laws. Accordingly, the securities in the private placement may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.About ASP Isotopes Inc.ASPI is an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries. We have an exclusive license to use proprietary technology, the Aerodynamic Separation Process (\"ASP technology\") for the production, distribu...