NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a
vertically integrated microreactor and advanced nuclear technology
company developing proprietary, portable, and clean energy
solutions, today announced the July 18, 2024 closing of the sale of
an additional 135,000 shares of its common stock at $20.00 per
share pursuant to the full exercise of underwriter’s over-allotment
option granted in connection with NANO Nuclear’s recent
underwritten follow-on public offering which closed on July 15,
2024.
The gross proceeds from NANO Nuclear’s follow-on
public offering, inclusive of the full over-allotment exercise,
before deducting underwriting discounts and other offering
expenses, were approximately $20,700,000, and net proceeds were
approximately $18,582,000.
“We are again thankful to our established and
new investors for the trust and faith they are placing in NANO
Nuclear and our vision for commercial innovation at the cutting
edge of advanced nuclear technology in the U.S.,”
said Jay Yu, Founder and Chairman of NANO
Nuclear Energy. “We find our emerging company in the
middle of a revitalization of America’s nuclear energy industry as
our country and our world seek sustainable, carbon-free energy
solutions for now and for the future. As evidenced by our
oversubscribed offering, we are humbled that our investors see us
as part of that solution, and with that support we will continue to
work tirelessly every day to further and expand our plans for the
benefit of our shareholders and the markets we will serve.”
The Benchmark Company, LLC acted as the sole
book-running representative for the offering. Ellenoff
Grossman & Schole LLP acted as counsel to NANO Nuclear.
Lucosky Brookman LLP acted as counsel to The Benchmark Company.
Withum Smith+Brown PC are NANO Nuclear’s registered independent
auditors.
Registration statements relating to this public
offering were filed with the Securities and Exchange Commission and
declared. This registration statement can be obtained by visiting
the SEC website at www.sec.gov. Please see such registration
statement for additional information regarding NANO Nuclear.
This press release shall 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 or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About NANO Nuclear Energy
Inc.
NANO Nuclear Energy Inc. (NASDAQ:
NNE) is an advanced technology-driven nuclear energy
company seeking to become a commercially focused, diversified, and
vertically integrated company across four business lines: (i)
cutting edge portable microreactor technology, (ii) nuclear fuel
fabrication, (iii) nuclear fuel transportation and (iv) nuclear
industry consulting services. NANO Nuclear believes it is the first
portable nuclear microreactor company to be listed publicly in the
U.S.
Led by a world-class nuclear engineering team,
NANO Nuclear’s products in technical development are
“ZEUS”, a solid core battery reactor, and “ODIN”, a
low-pressure coolant reactor, each representing advanced
developments in clean energy solutions that are portable, on-demand
capable, advanced nuclear microreactors.
Advanced Fuel Transportation Inc.
(AFT), a NANO Nuclear subsidiary, is led by former
executives from the largest transportation company in the world
aiming to build a North American transportation company that will
provide commercial quantities of HALEU fuel to small modular
reactors, microreactor companies, national laboratories, military,
and DOE programs. Through NANO Nuclear, AFT is the exclusive
licensee of a patented high-capacity HALEU fuel transportation
basket developed by three major U.S. national nuclear laboratories
and funded by the Department of Energy. Assuming development and
commercialization, AFT is expected to form part of the only
vertically integrated nuclear fuel business of its kind in North
America.
HALEU Energy Fuel Inc. (HEF), a
NANO Nuclear subsidiary, is focusing on the future development of a
domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel
fabrication pipeline for NANO Nuclear’s own microreactors as well
as the broader advanced nuclear reactor industry.
For more corporate information please
visit: https://NanoNuclearEnergy.com/
For further information, please
contact:
Email: IR@NANONuclearEnergy.comBusiness Tel: (212)
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Cautionary Note Regarding Forward
Looking Statements
This news release and statements of NANO
Nuclear’s management in connection with this news release or
related events contain or may contain "forward-looking statements"
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended, and the Private Securities Litigation Reform Act
of 1995. In this context, forward-looking statements mean
statements (including statements related to the public offering
described herein) related to future events, which may impact our
expected future business and financial performance, and often
contain words such as “seek,” "expects", "anticipates", "intends",
"plans", "believes", “potential”, "will", "should", "could",
"would" or "may" and other words of similar meaning. These
forward-looking statements are based on information available to us
as of the date of this news release and represent management's
current views and assumptions. Forward-looking statements are not
guarantees of future performance, events or results and involve
significant known and unknown risks, uncertainties and other
factors, some of which may be beyond our control. Readers are
cautioned that actual results may differ materially and adversely
from the results implied in forward-looking statements. For NANO
Nuclear, particular risks and uncertainties that could cause our
actual future results to differ materially from those expressed in
our forward-looking statements include but are not limited to the
following: (i) risks related to our U.S. Department of Energy
(“DOE”) nuclear fuel manufacturing submission and the development
of new or advanced technology, including difficulties with design
and testing, cost overruns, development of competitive technology,
(ii) our ability to obtain contracts and funding to be able to
continue operations; (iii) risks related to uncertainty regarding
our ability to commercially deploy a competitive advanced nuclear
reactor technology, and (iv) risks related to the impact of
government regulation and policies including by the DOE and the
U.S. Nuclear Regulatory Commission; and similar risks and
uncertainties associated with the business of a start-up business
operating a highly regulated industry. These factors may not
constitute all of the factors that could cause actual results to
differ from those discussed in any forward-looking statement, and
the NANO Nuclear therefore encourages investors to review other
factors that may affect future results in its filings with the SEC,
which are available for review at www.sec.gov and at
https://ir.nanonuclearenergy.com/financial-information/sec-filings.
Readers are cautioned not to place undue reliance on
forward-looking statements, which apply only as of the date of this
news release, and forward-looking statements should not be relied
upon as a predictor of actual results. We do not undertake to
update our forward-looking statements to reflect events or
circumstances that may arise after the date of this news release,
except as required by law.
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