ASP Isotopes Stock Is Surging After Hours: Here's Why

ASP Isotopes Inc ASPI shares are trading higher in Monday’s after-hours session after the company announced loan and supply agreements with Bill Gates-backed TerraPower.

What Happened: After the market close on Monday, ASP Isotopes announced that it entered into multiple definitive agreements with nuclear company TerraPower for financing support related to the construction of a new uranium enrichment facility capable of producing High Assay Low-Enriched Uranium (HALEU).

The company signed a loan agreement that provides conditional commitments from TerraPower to the company for a multiple-advance term loan.

ASP Isotopes and TerraPower also entered into two supply agreements for the HALEU expected to be produced at the company’s uranium enrichment facility. One is an initial core supply agreement and the other is a long-term supply agreement, starting in 2028 and running through the end of 2037, for up to 150 metric tons of HALEU.

“Nuclear fuel has one of the most severely compromised supply chains of any material in the world. The world is in urgent need of additional suppliers. Over the next several years our goal is to use our technologies to solve many of the supply challenges which currently exist,” said Paul Mann, chairman and CEO of ASP Isotopes.

“Our commercial agreement with TerraPower will enable us to accelerate the construction of an advanced nuclear fuel facility.”

ASP Isotopes shares surged in October 2024 after the company entered into a term sheet with TerraPower related to the same agreements. The term sheet contemplated the preparation of the definitive agreements announced on Monday.

ASPI Price Action: ASP Isotopes shares were up 7.85% after-hours trading Monday, at $8.11 at the time of publication, per Benzinga Pro.

Read Next:

• Trump Wants To Kickstart Nuclear Development: These 5 Stocks Could Boom

Photo: Shutterstock.