ASP isotope (ASPI) reduced its proposed initial public offering to $7 million from $12 million.
In its latest filing, the company says that it is currently looking for a way offers 1.5 million shares priced between $4 and $5, would raise about $7 million if valued at the midpoint.
In addition, certain selling shareholders plan to offer 2 million shares at a similar price, which will raise $9 million. The Company will not receive any proceeds from the sale.
In one filing earlier, The ASP said it is planning to offer 2 million shares priced between $5 and $7, which would rise by about $12 million if valued at mid-range.
The company hopes to list its shares on Nasdaq under the symbol ASPI.
Based in Florida, ASP is developing innovative isotope production technology. The company is initially focusing on technology to produce Molybdenum-100 for nuclear medical imaging and Uranium-235 for nuclear power generation.
For a more in-depth look at the company, check out Contributor Donovan Jones SA “ASP isotope proposes $12 million US IPO”.