ASP Isotopes, which is developing isotope enrichment facilities for medical and energy applications, announced terms for its IPO on Tuesday.
The Boca Raton, FL-based company plans to raise $12 million by offering 2 million shares at a price range of $5 to $7. At the midpoint of the proposed range, ASP Isotopes would command a fully diluted market value of $205 million.
ASP Isotopes is a pre-commercial stage advanced materials company with an exclusive license for the Aerodynamic Separation Process (ASP) of isotope enrichment. In 2021, it acquired a partially-constructed isotope facility in South Africa, which it expects to be operational by year-end. ASP Isotopes will initially focus on the production and commercialization of enriched Molybdenum-100 ("Mo-100"), to be used in the preparation of nuclear imaging agents by radiopharmacies. It also plans to produce enriched Uranium-235 ("U-235') as a component of nuclear fuel, including in HALEU-fueled small modular reactors.
ASP Isotopes was founded in 2021 and plans to list on the Nasdaq under the symbol ASPI. It has generated no revenues to date. Revere Securities is the sole bookrunner on the deal.
