ASP Isotopes Stock Plummets Pre-Market After Announcing Pricing Of Public Offering

The company expects the transaction to close on October 16, pending routine conditions.

ASP Isotopes Inc. (ASPI) announced on Wednesday the pricing of its underwritten public offering of more than 17 million shares of common stock, with total gross proceeds amounting to approximately $210.3 million.

The advanced materials company, which focuses on isotope production technology for various industries, expects the transaction to close on October 16, pending customary closing conditions.

The company stated that underwriters will have a 30-day option to buy extra shares valued at around $31.5 million. ASP Isotopes’ stock traded over 8% lower in Wednesday’s premarket and was among the top five equity tickers on Stocktwits. 

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