ASP Isotopes Inc. Announces Proposed Offering of Convertible Notes by Quantum Leap Energy
19 Februar 2024 - 2:00AM
ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes” or “ASPI” or the
“Company”), an advanced materials company dedicated to the
development of technology and processes for the production of
isotopes for use in multiple industries, announced today its
intention to commence an offering by its wholly-owned subsidiary,
Quantum Leap Energy LLC ("QLE”), of up to US$20 million aggregate
principal amount of QLE’s convertible notes (the "Notes"), subject
to market and other conditions (the "Notes Offering").
The Notes will be unsecured and may be convertible into common
equity securities of QLE prior to maturity upon the occurrence of
certain events, including an initial public offering, direct
listing or a future equity financing, in each case at a price per
share equal to the lower of 80% of the per share price in the
applicable transaction or the per share value of one share of QLE’s
common equity based on a set valuation cap.
The Notes will mature on the fifth anniversary of the initial
closing, unless converted in accordance with their terms prior to
such date. QLE may not repay the Notes prior to maturity, unless a
change of control transaction occurs.
QLE intends to use the net proceeds from the Notes Offering for
the planning for, building and development of laser enrichment
production facilities, as well as general corporate purposes.
There can be no assurance that the Notes Offering will be
consummated or, if consummated, QLE will sell the maximum principal
amount of Notes offered.
The Notes are offered in offshore transactions outside the
United States to non-U.S. persons in compliance with Regulation S
under the United States Securities Act of 1933, as amended (the
"Securities Act"). The Notes and the common equity securities of
QLE deliverable upon conversion of the Notes (if any) have not been
and will not be registered under the Securities Act or any other
applicable securities laws, and may not be sold or otherwise
transferred in the United States except under an exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act and in compliance with any other applicable
securities laws. No offering of the Notes or the common equity
securities of QLE deliverable upon conversion of the Notes (if any)
is being made into the United States or to U.S.
persons.
This press release shall not constitute an offer to sell or a
solicitation of an offer to purchase any securities, nor shall
there be a sale of the securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful. This
press release contains information about the pending Notes
Offering, and there can be no assurance that such transaction will
be completed.
About ASP Isotopes Inc.
ASP Isotopes Inc. is a pre-commercial stage
advanced materials company dedicated to the development of
technology and processes to produce isotopes for use in multiple
industries. The Company employs proprietary technology, the
Aerodynamic Separation Process (“ASP technology”). The Company’s
initial focus is on producing and commercializing highly enriched
isotopes for the healthcare and technology industries. The Company
also plans to enrich isotopes for the nuclear energy sector using
Quantum Enrichment technology that the Company is developing. The
Company has isotope enrichment facilities in Pretoria, South
Africa, dedicated to the enrichment of isotopes of elements with a
low atomic mass (light isotopes).
There is a growing demand for isotopes such as
Silicon-28, which will enable quantum computing, and
Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and
Nickel-64 for new, emerging healthcare applications, as well as
Chlorine-37, Lithium-6, and Uranium-235 for green energy
applications. The ASP Technology (Aerodynamic Separation Process)
is ideal for enriching low and heavy atomic mass molecules. For
more information, please visit www.aspisotopes.com.
Forward Looking Statements
This press release may contain “forward-looking
statements.” Forward-looking statements are neither historical
facts nor assurances of future performance. Instead, they are based
only on our current beliefs, expectations, and assumptions
regarding the future of our business, future plans and strategies,
projections, anticipated events and trends, the economy, and other
future conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks, and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Factors that could cause actual results
to differ include, but are not limited to, risks and uncertainties
related to the Company’s proposed offering of convertible notes of
Quantum Leap Energy LLC, or factors that result in changes to the
Company’s anticipated results of operations related to its products
and technologies. These and other risks and uncertainties are
described more fully in the section captioned “Risk Factors” in the
Company’s Annual Report on Form 10-K filed with the SEC. Therefore,
you should not rely on any of these forward-looking statements. Any
forward-looking statement made by us in this release is based only
on information currently available to us and speaks only as of the
date on which it is made. We undertake no obligation to publicly
update any forward-looking statement, whether written or oral, that
may be made from time to time, whether as a result of new
information, future developments, or otherwise, except as may be
required under applicable law.
Contacts
Jason Assad– Investor
relationsEmail: Jassad@aspisotopes.com Telephone:
561-709-3043
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