Shares of NANO Nuclear Energy Inc. (NNE) saw a decline of over 13% in pre-market trading on Friday, dropping to $22.73. This movement followed the company's announcement of an upsized public offering, which includes 900,000 common shares paired with warrants to purchase an additional 450,000 common shares. Each share, together with the associated warrant, is priced at $20.00.
The company plans to allocate the net proceeds—amounting to $18 million—from this offering to further its research and development efforts, support business development activities, and address general corporate purposes as well as working capital needs.
On Thursday, NANO Nuclear shares closed at $26.24, marking a 3.72% increase. Over the past year, the stock has fluctuated between a low of $3.25 and a high of $37.51.
