ASP Isotopes exchanges $109.2M QLE notes for 23.2M shares; QLE debt cut 50%

ASP Isotopes Inc.

Exchange of ~$109.2M QLE convertible notes (plus accrued interest) for ~23.2M ASPI shares (17.8% of outstanding).
QLE's outstanding notes reduced from $219.8M to $110.7M, a ~50% reduction.
Exchange expected to close July 16, 2026; QLE continues to pursue separate public listing.
ASPI may make future distribution of QLE equity to ASPI stockholders.
Transaction structured to be broadly economically neutral to both ASPI stockholders and QLE noteholders.

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