---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-24-000949"
form_type: "8-K"
ticker: "ASPI"
cik: "0001921865"
company_name: "ASP Isotopes Inc."
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T07:28:12.919161+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ASP Isotopes subsidiary QLE raises ~$20.5M via convertible notes for enrichment facilities

## Summary
- QLE raised ~$20.5M gross proceeds via convertible note offering; oversubscribed.
- Notes: 6% simple interest (first 12 months), then 8%; 5-year maturity; unsecured, subordinated.
- ASP Isotopes not a guarantor; proceeds to build laser enrichment production facilities.
- QLE adopted 2024 Equity Incentive Plan with 30% of outstanding units as share reserve.
- QLE entered License Agreement (10% royalty) and EPC Services Agreement with parent for facility construction.

## SEC filing metadata
- accession: 0001477932-24-000949
- form_type: 8-K
- ticker: ASPI
- cik: 0001921865
- company_name: ASP Isotopes Inc.
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1921865/000147793224000949/0001477932-24-000949-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1921865/000147793224000949/aspi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-24-000949
- JSON: https://secwatch.observer/filing/0001477932-24-000949.json
- Plain text: https://secwatch.observer/filing/0001477932-24-000949.txt

## Key facts
- Material Agreements
  ASP Isotopes Inc. entered into Convertible Note Purchase Agreement with certain institutional and individual investors valued at gross proceeds of approximately $20.5 million (effective 2024-02-29).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain institutional and individual investors
  - Value: gross proceeds of approximately $20.5 million
  - Effective: 2024-02-29
  source text: On February 29, 2024, Quantum Leap Energy LLC (“QLE”), a wholly owned subsidiary of ASP Isotopes Inc. (the “Company” or “we”), entered into a Convertible Note Purchase Agreement (the “Purchase Agreement”) with certain institutional and individual investors (collectively, the “Purchasers”), to issue and sell to the Purchasers convertible promissory notes of QLE (the “QLE Notes”) in an offering to non-U.S. persons outside of the United States under Regulation S of the Securities Act of 1933, as amended (the “Securities Act”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1921865/000147793224000949/0001477932-24-000949-index.htm
- Material Agreements
  ASP Isotopes Inc. entered into Placement Agent Agreement with Ocean Wall Limited valued at fee equal to 5.0% of the gross proceeds, 50% cash and 50% convertible promissory note (effective 2024-02-29).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Ocean Wall Limited
  - Value: fee equal to 5.0% of the gross proceeds, 50% cash and 50% convertible promissory note
  - Effective: 2024-02-29
  source text: The Company and QLE engaged Ocean Wall Limited (the “Placement Agent”) to act as QLE’s sole placement agent in connection with the offering of QLE Notes, pursuant to a placement agency agreement (the “Placement Agent Agreement”), dated as of February 29, 2024, between the Company, QLE and the Placement Agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1921865/000147793224000949/0001477932-24-000949-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.