ASP Isotopes (ASPI) has downsized its proposed initial public offering to $7M from $12M.
In its latest filing, the company said that it is now looking to offer 1.5M shares priced from $4 to $5, which would raise around $7M if priced at the midpoint.
In addition, certain selling shareholders plan to offer 2M shares at the same price, which would raise $9M. The company wouldn’t receive any proceeds from the sale.
In an earlier filing, ASP said that it was planning to offer 2M shares priced between $5 and $7, which would have raised around $12M if priced at the midpoint.
The company hopes to list its shares on Nasdaq under the symbol ASPI.
Based in Florida, ASP is developing technology for improved isotope production. The company is initially focusing on technology to produce Molybdenum-100 for nuclear medical imaging and Uranium-235 for nuclear power generation.
For more a more in-depth look at the company, check out SA contributor Donovan Jones’s “ASP Isotopes Proposes $12M US IPO”.