LIS Technologies Inc
LIS Technologies Inc., a pre-revenue Nevada corporation, filed an S-1 to raise approximately $17 million to $20 million via an IPO of 2,833,334 shares at an assumed midpoint price of $6.00 per share, with listing sought on Nasdaq under ticker "LIS." The company is developing a patented laser-based uranium enrichment technology (CRISLA) at its Oak Ridge, Tennessee test facility, where UF6 experiments are expected to begin before year-end 2026. LIST has accumulated $65.4 million in net losses since inception and holds no NRC commercial license; its four-phase development plan targets a commercial LEU facility producing 500 metric tons annually by approximately 2033.
- IPO of 2,833,334 shares at $5.00–$7.00 per share, targeting ~$17M–$20M in gross proceeds on a firm commitment basis.
- No revenue generated since inception (Dec 2021); accumulated net losses of $65,418,743 through July 31, 2026.
- Company holds a patented laser-based uranium enrichment technology (CRISLA) and received a Tennessee radiological material license in December 2025.
- CEO Jay Jiang Yu and President Christo Liebenberg each indicated non-binding interest in purchasing up to $250,000 of shares in the offering.
- Underwriters receive 6.5% discount, 0.5% non-accountable expense allowance, and warrants for 7% of shares sold at 115% of IPO price.
Price data unavailable.
A pre-revenue nuclear-fuel startup with no commercial license and $65M in losses is testing public-market appetite on the back of U.S. policy shifts favoring domestic uranium enrichment.
The IPO arrives amid U.S. policy tailwinds from the 2024 Prohibiting Russian Uranium Imports Act, which restricts Russian LEU imports and may boost demand for domestic enrichment. LIST claims to be the only company with a U.S.-origin patented laser uranium enrichment technology.
Pre-revenue company with $65.4M in accumulated losses; no NRC license for commercial uranium enrichment yet obtained; CRISLA technology was abandoned in the 1990s and has never been commercialized; Nasdaq listing not guaranteed — offering will not close without it.