Lucosky Brookman Represents The Benchmark Company in $60 Million Private Placement
NANO Nuclear Energy Inc. (NASDAQ: NNE), a pioneering advanced nuclear technology company focused on portable clean energy solutions, has successfully secured a $60 million private placement with three accredited institutional investors. The placement, which demonstrates strong investor confidence in the advanced nuclear sector, consisted of 2,500,000 shares of common stock priced at $24.00 per share.
Each share is accompanied by a five-year warrant to purchase one additional share of common stock at an exercise price of $26.00, providing 100% warrant coverage. The Benchmark Company, LLC served as the sole placement agent, with legal counsel provided by Lucosky Brookman LLP.
The financing significantly strengthens NANO Nuclear's financial position, bringing its total cash on hand to over $120 million. The proceeds will support the company's strategic initiatives, including:
- Advancement of cutting-edge microreactor development
- Growth of auxiliary businesses
- Pursuit of complementary acquisitions
- Drive toward initial revenue generation
The private placement was conducted under a definitive securities purchase agreement executed on November 24, 2024, with closing expected on November 27, 2024, subject to customary conditions. The Company has committed to filing a registration statement with the SEC by January 15, 2025, covering the resale of the common shares and warrant shares.
This strategic financing positions NANO Nuclear to accelerate its growth in the evolving advanced nuclear technology landscape and strengthen its market presence as a leading developer of portable nuclear solutions and auxiliary services across its five core business lines.
The Benchmark Company, LLC acted as sole placement agent for the offering. Lucosky Brookman LLP served as counsel to The Benchmark Company, LLC in this transaction.