09:45 AM EST, 11/25/2024 (MT Newswires) -- Nano Nuclear Energy ( NNE ) said Monday that it expects to raise $60 million through a private placement of 2.5 million shares and five-year warrants to buy up to an additional 2.5 million shares.

The company said investors will pay $24 for each share and associated warrant in the private placement, which is expected to be completed on Wednesday.

Nano Nuclear Energy ( NNE ) said the proceeds from the financing will help it advance microreactors, auxiliary businesses, seek complimentary acquisitions and drive growth.

The company's shares were down 15% in recent Monday trading.

Price: 28.16, Change: -5.44, Percent Change: -16.18