jedijazz
2 years ago
NEWS: ASP Isotopes Inc. Recognizes the Current Mo-99 Shortages and Continues to Execute on Plans to Help Ease Supply Chain Issues before 2024
Monday, November 21, 2022 8:45 AM
Company Update
BOCA RATON, FL / ACCESSWIRE / November 21, 2022 / ASP Isotopes Inc. (NASDAQ:ASPI) ("ASPI", the "Company", "us", "we" or "our"), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries, today confirmed that we remain on track to achieve our planned production of commercial quantities of highly enriched Molybdenum-100 before 2024. The Company plans to offer highly enriched Mo-100 to be used in the production of either technetium-99m (Tc-99m) or Mo-99 in a cyclotron or in a linear accelerator. Mo-99 is the active ingredient for Tc-99m-based radiopharmaceuticals used in nuclear medicine procedures to diagnose heart disease and cancer, to study organ structure and function, and to perform other important medical applications.
On November 17, 2022, the U.S. Food and Drug Administration (FDA) placed Tc-99m Sodium Pertechnetate generators on the Drug Shortages List. The Company has previously recognized the Mo-99 supply chain challenges in the existing medical isotope market. Currently, several overseas reactors that produce Mo-99, which is used to produce Tc-99m, are offline. The Mo-99 supply chain has historically been fragile and remains so today. The Company also understands that several ex-US consumers of Mo-99 are currently without supply, due to these supply issues. More information regarding the availability of Tc-99m generators is available on the FDA Drug Shortages List (https://www.accessdata.fda.gov/scripts/drugshortages/default.cfm).
The Company's molybdenum enrichment facility, currently under construction in Pretoria, South Africa is designed to have capacity to produce greater than 20 Kg/ year of molybdenum enriched to >95% in the Mo-100 isotope. The Company continues to expect that this facility will enter commercial production before 2024. The Company is in commercial discussions with multiple potential customers in multiple regions, with anticipated demands that currently exceed four times the headline capacity of the plant during the first five years of proposed production. The Company plans to expand capacity to meet the demands of these potential customers and update investors with the actual production capacity of the facility during 1H 2023 when the plant is expected to enter the commissioning phase.
About ASP Isotopes Inc.
ASP is an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries. We have an exclusive license to use proprietary technology, the Aerodynamic Separation Process ("ASP technology") for the production, distribution, marketing and sale of all isotopes.
Our initial focus is on the production and commercialization of enriched Molybdenum-100 ("Mo-100"), and we are constructing a first commercial-scale Mo-100 enrichment plant located in South Africa. We believe that the Mo-100 we may develop using the ASP technology has significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry.
We may also seek to use the ASP technology to separate Silicon-28, which we believe has potential application in the quantum computing target end market, and Carbon-14, which we believe has potential application in the pharma/agrochemical target end market. In addition, we are considering future development of the ASP technology for the separation of Zinc-68, Ytterbium-176, Zinc-67, Nickel-64 and Xenon-136 for potential use in the healthcare target end market, and Uranium-235, Chlorine -37 and Lithium-6 for potential use in the nuclear energy target end market.
We were incorporated in Delaware in September 2021. Our principal executive offices are located at 433 Plaza Real, Suite 275, Boca Raton, Florida 33432, and our telephone number is (561) 709-3034. Our website address is www.aspisotopes.com.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the U.S. Securities Exchange Act of 1934, as amended and the Securities Litigation Reform Act of 1995. The Company may also make written or oral "forward-looking statements" in documents filed with the U.S. Securities and Exchange Commission, in press releases, in reports to stockholders and in other materials or communications describing the Company. These "forward-looking statements" involve a number of risks, uncertainties, assumptions and other factors, many of which are outside of the Company's control, that could cause actual results to differ materially from such statements. For a more detailed description of these risks, uncertainties, assumptions and other factors, please see the Company's filings with the Securities and Exchange Commission, (and in particular the "Business", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in the Company's SEC filings). Readers are cautioned not to put undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date they are made, and we have no intention and undertake no obligation to update or revise any of them in light of new information, future events or otherwise. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
Robert Ainscow - Interim Chief Financial Officer
ir@aspisotopes.com
Dave Gentry - RedChip
dave@redchip.com
SOURCE: ASP Isotopes Inc.
jedijazz
2 years ago
$ASPI NEWS: ASP Isotopes Inc. Announces Closing of Initial Public Offering and Nasdaq Listing
Tuesday, November 15, 2022 2:00 PM
Topic:
IPO
BOCA RATON, FL / ACCESSWIRE / November 15, 2022 / ASP Isotopes Inc. ("ASPI" or the "Company") (Nasdaq:ASPI), an advanced materials company dedicated to the development of technology and processes that will allow for the production of isotopes that may be used in several industries, today announced the closing of its initial public offering of 1,250,000 shares of its common stock at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $5.0 million before deducting underwriting discounts, commissions, and other offering expenses.
The shares began trading on the Nasdaq Capital Market LLC on November 10, 2022, under the ticker symbol "ASPI."
The Company intends to use the net proceeds of the offering for the completion of its Molybdenum enrichment facility in Pretoria, South Africa and other general corporate purposes.
Revere Securities LLC is acted as sole book-running manager for the offering
A registration statement on Form S-1 (File No. 333-267392), is filed with the Securities and Exchange Commission ("SEC") and was declared effective on November 9, 2022. The final prospectus relating to the offering is available on the SEC's website at http://www.sec.gov . Electronic copies of the final prospectus relating to this offering are also available, from: Revere Securities LLC, 650 5th Ave, New York, NY 10019, United States.
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 ASP Isotopes Inc.
ASPI is an advanced materials company dedicated to the development of technology and processes that will allow for the production of isotopes that may be used in several industries. We have an exclusive license to use proprietary technology, the Aerodynamic Separation Process ("ASP technology") for the production, distribution, marketing and sale of all isotopes.
Our initial focus is on the production and commercialization of enriched Molybdenum-100 ("Mo-100"), and are constructing a first commercial-scale Mo-100 enrichment plant located in South Africa. We believe that the Mo-100 we may develop using the ASP technology has significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry.
We may also seek to use the ASP technology to separate Silicon-28, which we believe has potential application in the quantum computing target end market, and Carbon-14, which we believe has potential application in the pharma/agrochemical target end market. In addition, we are considering future development of the ASP technology for the separation of Zinc-68, Ytterbium-176, Zinc-67, Nickel-64 and Xenon-136 for potential use in the healthcare target end market, and Uranium-235, Chlorine -37 and Lithium-6 for potential use in the nuclear energy target end market.
We were incorporated in Delaware in September 2021. Our principal executive offices are located at 433 Plaza Real, Suite 275, Boca Raton, Florida 33432, and our telephone number is (561) 709-3034. Our website address is www.aspisotopes.com.
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
Robert Ainscow - Chief Financial Officer
ir@aspisotopes.com
Dave Gentry - RedChip
dave@redchip.com
SOURCE: ASP Isotopes
jedijazz
2 years ago
$ASPI #IPO #Nasdaq "ASP Isotopes Inc. Announces Pricing of Initial Public Offering and Nasdaq Listing"
-ASP Isotopes
Thu, November 10, 2022 at 7:30 AM
BOCA RATON, FL / ACCESSWIRE / November 10, 2022 / ASP Isotopes Inc. ("ASPI" or the "Company") (NASDAQ:ASPI), an advanced materials company dedicated to the development of technology and processes that will allow for the production of isotopes that may be used in several industries, today announced the pricing of its initial public offering of 1,250,000 shares of its common stock at a public offering price of $4.00 per share, for aggregate gross proceeds of approximately $5.0 million before deducting underwriting discounts, commissions, and other offering expenses. In addition, ASPI has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of common stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any.
The shares are expected to begin trading on the Nasdaq Capital Market LLC on November 10, 2022, under the ticker symbol "ASPI" and the offering is expected to close on or about November 14, 2022, subject to satisfaction of customary closing conditions.
Revere Securities LLC is acting as sole book-running manager for the offering.
A registration statement on Form S-1 (File No. 333-267392), was filed with the Securities and Exchange Commission ("SEC") and was declared effective on November 9, 2022. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to this offering, when available, from: Revere Securities LLC, 650 5th Ave, New York, NY 10019, United States. The final prospectus will also be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.
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 ASP Isotopes Inc.
ASPI is an advanced materials company dedicated to the development of technology and processes that will allow for the production of isotopes that may be used in several industries. We have an exclusive license to use proprietary technology, the Aerodynamic Separation Process ("ASP technology") for the production, distribution, marketing and sale of all isotopes.
Our initial focus is on the production and commercialization of enriched Molybdenum-100 ("Mo-100"), and are constructing a first commercial-scale Mo-100 enrichment plant located in South Africa. We believe that the Mo-100 we may develop using the ASP technology has significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry.
We may also seek to use the ASP technology to separate Silicon-28, which we believe has potential application in the quantum computing target end market, and Carbon-14, which we believe has potential application in the pharma/agrochemical target end market. In addition, we are considering future development of the ASP technology for the separation of Zinc-68, Ytterbium-176, Zinc-67, Nickel-64 and Xenon-136 for potential use in the healthcare target end market, and Uranium-235, Chlorine -37 and Lithium-6 for potential use in the nuclear energy target end market.
We were incorporated in Delaware in September 2021. Our principal executive offices are located at 433 Plaza Real, Suite 275, Boca Raton, Florida 33432, and our telephone number is (561) 709-3034. Our website address is www.aspisotopes.com.
Forward Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contacts
Robert Ainscow - Chief Financial Officer
ir@aspisotopes.com
Dave Gentry - RedChip
dave@redchip.com
SOURCE: ASP Isotopes Inc.
View source version on accesswire.com:
https://www.accesswire.com/724984/ASP-Isotopes-Inc-Announces-Pricing-of-Initial-Public-Offering-and-Nasdaq-Listing
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