---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-25-008327"
form_type: "8-K"
ticker: "ASPI"
cik: "0001921865"
company_name: "ASP Isotopes Inc."
filed_at: "2025-11-14T23:59:59+00:00"
generated_at: "2026-05-16T19:56:13.248199+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# ASP Isotopes subsidiary QLE raises ~$64.3M via convertible notes at 8% interest, existing 2024 notes auto-convert

## Summary
- QLE issued ~$64.3M in 8% convertible notes due Nov 2030; proceeds for laser enrichment facilities.
- Existing March & June 2024 QLE convertible notes (~$147.7M principal) auto-convert into new notes.
- ASPI is not a guarantor; notes are unsecured and subordinate to bank debt, with no prepayment allowed.
- Conversion triggers include IPO/SPAC/direct listing (80% discount), Next Equity Financing ($20M+), or change of control (1.5x principal).
- Valuation cap is $400M plus offering proceeds; Canaccord Genuity and Ocean Wall acted as placement agents (6% commission).

## SEC filing metadata
- accession: 0001477932-25-008327
- form_type: 8-K
- ticker: ASPI
- cik: 0001921865
- company_name: ASP Isotopes Inc.
- filed_at: 2025-11-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1921865/000147793225008327/0001477932-25-008327-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1921865/000147793225008327/aspi_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-25-008327
- JSON: https://secwatch.observer/filing/0001477932-25-008327.json
- Plain text: https://secwatch.observer/filing/0001477932-25-008327.txt

## Key facts
- Debt Financings
  ASP Isotopes Inc. incurred convertible notes of $64.3 million with certain institutional and individual investors at 8.0% per annum maturing five-year anniversary of the initial closing.
  - Instrument: convertible notes
  - Principal: $64.3 million
  - Counterparty: certain institutional and individual investors
  - Rate: 8.0% per annum
  - Maturity: five-year anniversary of the initial closing
  - Event: incurrence
  source text: investors who are not a person in the United States or a U.S. Person (within the meaning of Rule 902(k) of Regulation S promulgated under the Securities Act) for approximately $64.3 million of QLE 2025 Notes. The initial closing of the offering is expected to be on or about November 17 or 18, 2025, subject to satisfaction of customary closing conditions, and at such
  evidence_url: https://www.sec.gov/Archives/edgar/data/1921865/000147793225008327/0001477932-25-008327-index.htm

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