Nano Nuclear Energy Inc ( NNE ) shares are trading lower Tuesday after the company announced an offering.

What To Know: After the market close on Monday, Nano Nuclear filed to sell 1,398,602 units, with each unit consisting of one share of common stock and one 2024 B warrant to purchase up to 0.5 shares of common stock.

The warrants will not be listed on any exchanges, therefore the company said the liquidity of the warrants will be limited and should be considered illiquid.

Nano Nuclear also said it will grant the underwriters a 30-day option to purchase up to an additional 209,790 shares and/or additional warrants to purchase up to 104,895 shares.

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The offering comes after nuclear stocks rallied in recent weeks as big tech companies increasingly turn to nuclear to meet the rising energy demands of data centers related to the rapid advancement of AI. 

Amazon Web Services (AWS) announced plans last week to invest over $500 million to support the development of nuclear energy projects just a few days after Google announced a deal to purchase power from a fleet of SMRs from Kairos Power. Google’s first reactor is expected to be online by 2030, with more reactors anticipated through 2035.

Nano Nuclear shares have traded higher in recent sessions alongside several other nuclear names. Despite Tuesday’s pullback on the offering, the stock is still up nearly 100% over the past month.

Nano Nuclear shares were down 6.10% at $25.69 at the time of publication, according to Benzinga Pro.