Nano Nuclear Energy Completes Asset Acquisition
Ticker: NNE · Form: 8-K · Filed: Jan 14, 2025 · CIK: 1923891
Sentiment: neutral
Topics: acquisition, material-definitive-agreement, nuclear-energy
TL;DR
Nano Nuclear Energy just bought some advanced reactor assets, big move for their tech.
AI Summary
Nano Nuclear Energy Inc. announced on January 14, 2025, the completion of its acquisition of certain assets related to the development of advanced nuclear reactors. The company entered into a material definitive agreement for this acquisition, the details of which were not fully disclosed in this filing but are considered significant.
Why It Matters
This acquisition signifies a step forward for Nano Nuclear Energy in its pursuit of advanced nuclear reactor technology, potentially impacting the future of clean energy development.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and asset acquisition, which can involve significant financial commitments and integration challenges.
Key Players & Entities
- Nano Nuclear Energy Inc. (company) — Registrant
- January 14, 2025 (date) — Date of Report
- January 10, 2025 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 10 Times Square, 30th Floor New York, New York 10018 (address) — Principal executive offices
FAQ
What specific assets were acquired by Nano Nuclear Energy Inc.?
The filing does not specify the exact nature or details of the acquired assets, only that they are related to the development of advanced nuclear reactors.
What is the financial value of the acquisition?
The filing does not disclose the financial terms or dollar amounts associated with the acquisition.
When did the earliest event related to this report occur?
The earliest event reported occurred on January 10, 2025.
What is the primary business of Nano Nuclear Energy Inc.?
Nano Nuclear Energy Inc. is involved in the electric services sector, specifically focusing on the development of advanced nuclear reactors.
Where is Nano Nuclear Energy Inc. incorporated?
Nano Nuclear Energy Inc. is incorporated in Nevada.
Filing Stats: 2,109 words · 8 min read · ~7 pages · Grade level 17.2 · Accepted 2025-01-14 08:00:27
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share NNE The Nasdaq Stock Mark
- $8,500,000 — action ") for a total purchase price of $8,500,000 in cash (the " Purchase Price "). The c
- $250,000 — the APA Amendment, as described below, $250,000 of the Purchase Price (the " Canadian E
- $1.00 — rice ") will be equal to the sum of (i) $1.00 plus (ii) if the Acquisition is for (A)
Filing Documents
- form8-k.htm (8-K) — 60KB
- ex10-2.htm (EX-10.2) — 82KB
- ex10-3.htm (EX-10.3) — 87KB
- ex99-1.htm (EX-99.1) — 34KB
- ex99-1_001.jpg (GRAPHIC) — 8KB
- ex99-1_002.jpg (GRAPHIC) — 8KB
- ex99-1_003.jpg (GRAPHIC) — 23KB
- ex99-1_004.jpg (GRAPHIC) — 15KB
- ex99-1_005.jpg (GRAPHIC) — 15KB
- 0001493152-25-002028.txt ( ) — 599KB
- nne-20250114.xsd (EX-101.SCH) — 3KB
- nne-20250114_def.xml (EX-101.DEF) — 29KB
- nne-20250114_lab.xml (EX-101.LAB) — 33KB
- nne-20250114_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 4KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): January 14, 2025 (January 10, 2025) Nano Nuclear Energy Inc. (Exact name of registrant as specified in its charter) Nevada 001-42044 88-0861977 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 10 Times Square , 30th Floor New York , New York 10018 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (212) 634-9206 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 per share NNE The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 1.01 Entry into a Material Definitive Agreement. Item 2.01 Completion of Acquisition or Disposition of Assets. USNC Asset Purchase Agreement Closing As previously disclosed, on December 18, 2024, Nano Nuclear Energy Inc., a Nevada corporation (the " Company "), entered into an Asset Purchase Agreement (as amended, the " APA ") with Ultra Safe Nuclear Corporation, a Delaware corporation, Ultra Safe Nuclear Corporation – Technologies, a Washington corporation, USNC Holdings, LLC, a Washington limited liability company, Global First Power Limited, a Canadian corporation, and USNC-Power, Ltd., a British Columbia corporation (collectively, " Sellers "), pursuant to which, subject to the terms and conditions set forth in the APA, the Company agreed to acquire certain assets of Sellers on an as-is, where-is basis, relating to Sellers' micro modular nuclear reactor business (marketed as the MMR Energy System) (the " MMR Business "), and transportable fission power system technology business marketed as a Pylon Transportable Reactor Platform (the " Pylon Business "), including certain contracts, intellectual property rights, demonstration projects and, as amended, the equity interests of a Canadian entity (collectively, the " Assets "), free and clear of any liens other than certain specified liabilities of Sellers that are being assumed (collectively, the " Liabilities " and such acquisition of the Assets and assumption of the Liabilities together, the " Transaction ") for a total purchase price of $8,500,000 in cash (the " Purchase Price "). The closing of the Transaction (the " Closing ") occurred on January 10, 2025. The Assets acquired by the Company at the Closing more particularly consist of five contracts with third-party collaborators, 38 issued, pending or published patents, including six issued and four pending or published U.S. utility patents and three issued and four pending Canadian utility patents, 16 registered, pending or published trademarks, and any other technology and intellectual property related to the acquired businesses, rights related to a demonstration project related to the MMR Business in the United States and the business records of the acquired businesses and related confidentiality rights. The Assets related to the MMR Business were assigned to a new wholly-owned subsidiary of the Company, Kronos MMR Inc., a Nevada corporation (" Kronos MMR "), and the Assets related to Pylon Business were assigned to a new wholly-owned subsidiary of the Company, LOKI MMR Inc., a Nevada corporation (" LOKI MMR "). The Assets also include three contracts with Canadian authorities, the equity interests of a Canadian partnership (the " Canadian Partnership ") and rights related to a demonstration project related to the MMR Business in Canada (the " Canadian Assets "), the transfer of which Canadian Assets are all subject to the consent of the Canadian g