Entry into a Material Definitive Agreement · Unregistered Sales of Equity Securities · Regulation FD Disclosure
Item 1.01 Entry Into a Material Definitive Agreement. On September 28, 2026, Nano Nuclear Energy Inc., a Nevada corporation (the “Company”) and its wholly owned subsidiary HALEU Energy Fuel Inc., a Nevada corporation (the “Buyer”, and together with the Company, the “Buyer Parties” and each a “Buyer Party), entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Radnostix, Inc.…
Filed Oct 2, 2026Accepted Oct 2, 2026, 4:30 PM EDTCIK 1923891Accession 0001493152-26-045534
We are an emerging, pre-revenue nuclear energy company, developing smaller, cheaper, and safer advanced portable clean energy solutions, utilizing proprietary reactor designs, intellectual property, and research methods, to contribute towards a sustainable future. Led by a world class scientific and management team, our business plan involves a comprehensive engagement across every sector of the nuclear power industry, traversing the path from sourcing raw materials through to developing cutting edge advanced nuclear microreactors. Our dedication extends further, encompassing both commercial nuclear fuel transportation and consulting services.
Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 1.01Item 1.01 - Entry into Material Agreement
Item
1.01 Entry Into a Material Definitive Agreement.
On
September 28, 2026, Nano Nuclear Energy Inc., a Nevada corporation (the “Company”) and its wholly owned subsidiary HALEU
Energy Fuel Inc., a Nevada corporation (the “Buyer”, and together with the Company, the “Buyer Parties” and each
a “Buyer Party), entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Radnostix, Inc. (f/k/a International
Isotopes, Inc.), a Texas corporation (“RNX”), and its wholly owned subsidiary International Isotopes Fluorine Products, Inc.,
an Idaho corporation (“IIFP” and, together with RNX, “Sellers”).
Pursuant
to the Purchase Agreement, the Buyer has agreed, subject to the conditions to closing described below, to acquire all of Sellers’
U.S. nuclear fuel processing assets (the “Purchased Assets”), including a U.S. Nuclear Regulatory Commission (“NRC”)
license and related intellectual property and technical materials associated with a previously planned depleted uranium hexafluoride
(“DUF6”) deconversion and fluorine extraction facility in Lea County, New Mexico (the “DUF6 Plant”).
The
Purchased Assets include: (i) NRC Material License SUB-1011 and the related regulatory materials; (ii) a New Mexico air quality permit;
(iii) a portfolio of issued and/or expired U.S. patents covering fluorine extraction and related processes; (iv) technical, design, safety
and vendor materials, including documentation originally acquired from General Dynamics relating to the Sequoyah Fuels conversion plant;
and (v) other assets of Sellers reasonably necessary for, or related to, the permitting, development, financing, construction, ownership
or operation of the DUF6 Plant.
Buyer
will assume only certain liabilities that arise under the Purchased Assets after the future closing of the Transaction (the “Closing”).
All other liabilities of Sellers stay with Sellers.
The
Closing remains subject to a number of conditions precedent, including NRC consent to the license transfer, other required approvals
and consents (including from New Mexico officials), satisfactory site arrangements and other closing conditions. The parties currently
expect closing in approximately 90 to 120 days, although the timing will depend on those approvals and conditions. The Sellers have agreed
to customary covenants pending the Closing, including with respect to maintenance of the Purchased Assets and the non-solicitation of
alternative proposals for the Purchased Assets. The Sellers have also agreed to customary post-Closing restrictive covenants.
Prior
to entering into the Purchase Agreement, the Company and IIFP entered into an escrow agreement with Citibank, N.A. pursuant to which
the Company deposited $0.5 million into an escrow account (together with any interest accrued thereon, the “Escrowed Funds”)
in connection with the execution of a proposal letter executed between RNX and the Company which provided the Company the exclusive right
to negotiate with RNX for the purchase of the Purchased Assets. Upon signing the Purchase Agreement, the Escrowed Funds are subject to
release to release to RNX.
At
the Closing, subject to satisfaction or waiver of conditions precedent, the Buyer Parties will (i) pay Sellers $9.5 million in cash,
less the Escrowed Funds any amounts paid to release liens on the Purchased Assets and (ii) issue to RNX $4 million of restricted shares
of the Company’s common stock (“Common Stock”) with the number of shares issuable determined based on the volume-weighted
average price of the Common Stock during the period from the tenth trading day before the date of the Purchase Agreement through the
trading day before the Closing Date. No fractional shares will be issued; instead, Sellers will receive cash for any fractional share.
The
Buyer Parties’ obligation to close is subject to a number of customary closing conditions. In addition, the Buyer Parties’
obligation to close is subject to satisfaction of the following additional specific conditions: (i) the NRC approving the transfer of
Sellers’ NRC license to Buyer; (ii) Buyer acquiring fee simple title or a valid leasehold interest in the parcel of real property
located in Lea County, New Mexico (the “Hobbs Site”) from Lea County, New Mexico (the “County”), on terms satisfactory
to Buyer in its sole discretion, which may include a new Industrial Revenue bond structure and the termination, defeasance and discharge
of Sellers’ existing Industrial Revenue Bond structure (which includes a bond, mortgage and indenture) with the County (the “Hobbs
Site Condition”); and (iii) Buyer conducting environmental assessments of the Hobbs Site satisfactory to Buyer.
The
Purchase Agreement contains customary representations, warranties, covenants and indemnification from Sellers and the Buyer Parties for
a transaction of this nature. The Purchase Agreement may be terminated in the following circumstances: (i) by mutual written consent;
(ii) by either party if the other party commits a material breach that is not cured within seven (7) business days after notice; (iii)
by Buyer or Sellers if the Hobbs Site Condition has not been satisfied within 120 days after September 28, 2026, which Buyer may extend
by 60 days (the “Outside Date”), or if the parties have reason to believe it will not be satisfied; (iv) by Buyer or Sellers
if the environmental assessments shall not have been completed or provided results satisfactory to Buyer (including that there be no
remediation expenditures in excess of $0.1 million); and (v) if the NRC license transfer has not occurred by the Outside Date or if the
parties have reason to believe it will not be satisfied.
If
the Purchase Agreement is terminated in specified circumstances, Sellers must return an amount equal to the Escrowed Funds to Buyer within
two business days. These circumstances include termination because the Hobbs Site Condition was not satisfied, because the NRC License
Transfer did not occur, or because of a Seller breach. If termination results from Buyer’s failure to qualify or be eligible to
receive the NRC license, the amount returned will be reduced by Sellers’ reasonable documented expenses.
Item 3.02Item 3.02 - Unregistered Sales of Equity
Item
3.02 Unregistered Sales of Equity Securities.
The
disclosure set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item
7.01 Regulation FD Disclosure.
On
October 1, 2026, the Company issued a press release announcing the acquisition of RNX and IIFP. The press release is furnished as Exhibit
99.1 to this Current Report.
Filed exhibits (1)
EX-99.1 (by filename) ex99-1.htm
Exhibit
99.1
NANO
Nuclear Energy Advances Vertical Integration Strategy by Signing Definitive Agreement to Acquire Strategic NRC-Licensed U.S. Nuclear
Fuel Processing Assets
Acquisition
would provide NANO Nuclear with strategically valuable NRC-licensed fuel cycle assets and optionality to pursue domestic nuclear fuel
cycle activities, independently or in collaboration with strategic partners
Upon
completion of the transaction and transfer of the NRC license, NANO Nuclear would own one of ten NRC-licensed fuel cycle facilities in
the United States
New
York, N.Y., October 1, 2026 - NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or the “Company”), an advanced nuclear energy and technology company developing microreactors, nuclear fuel cycle capabilities and nuclear transportation
solutions, today announced that NANO Nuclear and its wholly owned subsidiary, HALEU Energy Fuel Inc., have entered into a definitive
asset purchase agreement with Radnostix, Inc. (formerly International Isotopes Inc.) and its subsidiary International Isotopes
Fluorine Products, Inc. to acquire strategic U.S. nuclear fuel processing assets, including a U.S. Nuclear Regulatory Commission (“NRC”)
li…