12:09 PM EDT, 10/24/2024 (MT Newswires) -- Nano Nuclear Energy ( NNE ) said Thursday it expects to raise about $36 million from the sale of roughly 2.1 million common shares and warrants for 1.1 million common stock at $17 apiece in a registered public offering.

Underwriters have been granted a 30-day option to buy up to 317,646 and warrants to purchase 158,823 additional shares for up to $5.4 million in additional proceeds, the company said.

Net proceeds from the offering, due to close by Friday, will likely be used to support nuclear research and development, marketing, business development, regulatory activities, operations, investments in similar business technologies, and its new headquarters in Oak Ridge, Tennessee, it added.

The company's shares were down over 6% in recent trading.

Price: 18.61, Change: -1.26, Percent Change: -6.34