Nano Nuclear Energy to issue 2.5M shares at $24.00 in private placement

NANO Nuclear Energy (NNE) announced the execution of a definitive securities purchase agreement with three accredited institutional investors for a private placement which is expected to result in gross proceeds of approximately $60M to NANO Nuclear, before deducting offering expenses. The proceeds from this financing significantly augments NANO Nuclear’s cash on hand to over $120M. With this cash on hand, NANO Nuclear will be able to more readily advance its microreactors, auxiliary businesses, seek complimentary acquisitions and drive growth towards initial revenue generation. The definitive securities purchase agreement was executed on November 24, 2024, and the private placement is expected to close on November 27, 2024, subject to customary closing conditions. The Benchmark Company is acting as sole placement agent for the transaction. In connection with the private placement, the Company will issue an aggregate of 2,500,000 shares of common stock and five-year warrants to purchase an aggregate of up to an additional 2,500,000 shares of common stock, or 100% warrant coverage. Investors will pay a purchase price of $24.00 for each share and associated warrant. The warrants are exercisable for $26.00 per share.