Nano Nuclear agrees to buy NRC-licensed fuel-cycle assets for about $13.5 million

Nano Nuclear Energy is buying its way into an existing U.S. nuclear fuel-cycle license. In an 8-K filed Friday, the company said that on Sept. 28 it and subsidiary HALEU Energy Fuel Inc. signed an asset purchase agreement with Radnostix, Inc. (formerly International Isotopes, Inc.) and International Isotopes Fluorine Products, Inc. to acquire Sellers’ U.S. nuclear fuel processing assets.

The package centers on NRC Material License SUB-1011 and related materials for a previously planned depleted uranium hexafluoride (DUF6) deconversion and fluorine extraction facility in Lea County, New Mexico. Assets also include a New Mexico air quality permit, fluorine-extraction patents, and technical and design records—including documentation originally acquired from General Dynamics tied to the Sequoyah Fuels conversion plant. The contemplated facility was not previously constructed.

At closing, Nano Nuclear said it will pay $9.5 million in cash, less a $0.5 million escrow already deposited with Citibank and any amounts used to clear liens, and issue $4 million of restricted common stock to Radnostix, with share count set by a multi-day volume-weighted average price ending the day before closing. Closing is expected in about 90 to 120 days, subject to conditions that include NRC consent to transfer the license, satisfactory title or leasehold rights to the Hobbs Site in Lea County, and environmental assessments with remediation spend capped at $0.1 million for a clean result.

Buyer assumes only certain post-closing liabilities tied to the purchased assets; other Seller liabilities stay with the Sellers. A press release furnished as Exhibit 99.1 said that after the license transfer Nano Nuclear would own one of ten NRC-licensed fuel cycle facilities in the United States and plans to evaluate deconversion and other fuel-cycle options, alone or with partners.

Nano Nuclear shares closed Friday near $15.62, down about 0.7% on the day and down roughly 43% year to date.

By the numbers

• Agreement date: Sept. 28, 2026
• Cash at closing: $9.5 million (less $0.5 million escrow and lien-release amounts)
• Equity at closing: $4 million of restricted NNE common stock
• Expected closing window: ~90–120 days
• Key condition: NRC transfer of Material License SUB-1011
• Environmental remediation threshold in close condition: ≤$0.1 million

Sources

1. Nano Nuclear Energy Inc. Form 8-K, filed Oct. 2, 2026, accession 0001493152-26-045534
2. Nano Nuclear Energy Inc. Exhibit 99.1 press release, dated Oct. 1, 2026

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