NANO Nuclear Energy Inc (NNE) saw its stock price plummet by 14.73% in the pre-market trading session on Monday, following the company's announcement of a $60 million private placement of common stock.

NNE executed a definitive securities purchase agreement with three accredited institutional investors to issue 2.5 million new shares at $24.00 per share. While the $60 million in proceeds will bolster the company's balance sheet and fund growth initiatives, the private placement will result in significant equity dilution for existing shareholders.

Investors reacted negatively to the dilutive impact of the share issuance, driving a sharp sell-off in NNE's stock during the pre-market session. The steep decline reflects concerns among investors about the potential dilution of their existing holdings, as the company moves forward with its capital raising plans.