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Subsequent Events
 9 Months Ended
Sep. 30, 2024
Subsequent Events  
Subsequent Events

Note 8. Subsequent Events

 

ATM Sales

 

Sales of common stock under the Company’s ATM from October 1, 2024 to November 1, 2024 amounted to 485,571 shares, which resulted in total net proceeds of approximately $1.4 million.

INL Contract

 

On October 24, 2024, the Company and BEA entered into Modification No. 3 PTS under the SPPA, dated December 9, 2022, as amended on May 23, 2023 and March 26, 2024, by and between the Company and BEA. This modification was done to increase funding for additional demonstration extrusions. Pursuant to the terms of Modification No. 3, the potential amounts payable by the Company to reimburse BEA for its expenses and employee time were increased by approximately $0.3 million, bringing the total estimated cost for the work to be performed under the “umbrella” SPPA to $2.0 million.

 

After Modification No. 3, total cash payments from the Company to BEA under both Agreements were estimated at approximately $4.6 million (excluding project contingencies) on a cost reimbursable basis over the performance periods under the initial releases.