NANO Nuclear Energy Announces IPO Pricing

NANO Nuclear Energy Inc.

New York, NY, May 7, 2024 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”) today announced the pricing of its initial public offering of 2,562,500 shares of its common stock at a public price of $4.00 per share, less underwriting discounts and commissions. The sole bookrunner of the offering will have a 30-day option to purchase up to 384,375 additional shares of NANO Nuclear common stock at the initial public offering price, less underwriting discounts and commissions.

NANO Nuclear’s common stock has been approved for listing and is expected to begin trading on the Nasdaq Capital Market under the symbol “NNE” on Wednesday May 8, 2024.

The offering is expected to close on May 10, 2024, subject to customary closing conditions.

The gross offering proceeds for NANO Nuclear, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $10,250,000 million. NANO Nuclear intends to use the net proceeds from this offering to continue the research and development of its proprietary micro-nuclear reactor designs, “ZEUS” and “ODIN”, advancing its exclusively licensed technology to transport commercial quantities of high-grade, low-enriched reactors. Uranium fuel (HALEU) is necessary for the future of the advanced nuclear industry, the development of a U.S. domestic source of HALEU fuel manufacturing for NANO Nuclear’s own microreactors and the broader reactor industry advanced nuclear power plants, as well as for general corporate purposes and working capital.

The Benchmark Company, LLC is acting as sole book-running manager for the offering.

A registration statement relating to these securities has been filed with the United States Securities and Exchange Commission and became effective on May 6, 2024. The proposed offering will be made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from The Benchmark Company, LLC, 150 East 58th St., 17th Floor, New York, NY 10155, by telephone: (212) 312-6700, or by email to the address [email protected].

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 NANO Nuclear Energy Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is an emerging advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified and vertically integrated company across four business segments: (i) advanced portable microreactor technology, (ii) manufacturing of nuclear fuel, (iii) nuclear fuel. transportation and (iv) advisory services to the nuclear industry.

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Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid-core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean and portable energy solutions. , advanced and capable on-demand nuclear microreactors.

Advanced Fuel Transportation Inc. (AFT), a nuclear subsidiary of NANO, is led by former executives of the world’s largest transportation company and aims to create a North American transportation company that will supply commercial quantities of HALEU fuel to small modular reactors, microreactors, national laboratories, the military and the DOE. programs. Through NANO Nuclear, AFT is the exclusive owner of a patented, high-capacity HALEU fuel transport basket, developed by three major American national nuclear laboratories and financed by the Department of Energy. Assuming development and commercialization, AFT is expected to be the only company of its type in North America.

HALEU Energy Fuel Inc. (HEF)a nuclear subsidiary of NANO, is focused on the future development of a domestic source for a low-enriched uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader reactor industry advanced nuclear weapons.

Caution Regarding Forward-Looking Statements

This press release and statements by NANO Nuclear’s management in connection with this press release or related events contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, such as amended, and Private Securities Litigation. Reform Act 1995. Forward-looking statements in this context mean statements relating to future events, which may impact our expected future business and financial performance, and often contain words such as “expected”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “could” and other words of similar meaning. These statements forward-looking statements (which include statements regarding the commencement of trading in our common stock and the closing of the offering described herein) are based on information available to us as of the date of this press release and represent the views and management’s current assumptions Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, special risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include, without limitation, the following which are and will be exacerbated by any deterioration in global business and economic environment: (i) risks related to our submission of nuclear fuel manufacturing to the United States Department of Energy (“DOE”) and the development of new or advanced technologies, including design difficulties and testing, cost overruns, development of competitive technologies, (ii) our ability to obtain contracts and financing to continue our operations; (iii) risks related to uncertainty regarding our ability to commercially deploy advanced and competitive nuclear reactor technology, (iv) risks related to the impact of government regulations and policies, including those of the DOE and the US Nuclear Regulatory Commission; and similar risks and uncertainties associated with the activities of a start-up company operating in a highly regulated industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. These factors may not constitute all of the factors that could cause actual results to differ from those discussed in any forward-looking statement. Therefore, forward-looking statements should not be relied upon as an indication of actual results. We undertake no obligation to update our forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by law.

For more information, please contact:

Email: [email protected]
Such. professional: (212) 634-9206

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