Ionetix announced it has raised more than $30 million through a private placement offering priced at $3.00 per share, alongside completing a reverse merger that enables the company to go public.
The transaction was executed through a merger with JDEV Acquisition Corp., which has now been renamed Ionetix Corp. As a result, the company is subject to public reporting requirements under the Securities Exchange Act of 1934 and plans to file a resale registration statement on Form S-1 with the SEC. Ionetix also intends to pursue quotation of its shares on the OTCQB Venture Market.
Ionetix specializes in patent-protected superconducting cyclotron technology, which powers particle accelerator solutions used across medical and industrial applications. The company is currently generating revenue in the medical isotope sector, supporting both positron emission tomography (PET) diagnostics and alpha emitter therapeutics.
The newly secured capital is expected to support expanded production capacity for medical radioisotopes, as well as increased research and development efforts across nuclear energy, materials testing, and related verticals.
Support: Network 1 Financial Securities, Inc., in collaboration with Intuitive Ventures Partners LLC, served as placement agent for the offering.
KEY QUOTE:
“Ionetix is well-positioned at a promising moment for the medical isotope space, as more PET imaging agents are approved and alpha emitter therapeutic clinical trials are launched. With this financing and a path toward becoming a publicly traded company, we will continue scaling up production of medical radioisotopes as well as increase our R&D efforts for our particle accelerator platform technology in the nuclear energy, materials testing and other related spaces.”
Kevin Cameron, Chief Executive Officer, Ionetix
