Trump Sons Back Quantum Leap Energy in $64 Million Uranium Investment Deal
Eric Trump and Donald Trump Jr. are among the investors backing a private placement by Quantum Leap Energy LLC, the uranium-enriching subsidiary of ASP Isotopes Inc., which has raised approximately $64.3 million.
The company is now seeking additional investors with the goal of reaching a combined total of about $100 million in proceeds, according to sources familiar with the matter. The convertible notes being offered value Quantum Leap Energy at $400 million prior to the infusion of new capital.
Trump Family Investment Network
The deal was spearheaded by American Ventures, an investment firm connected to Dominari Holdings Inc., the boutique bank located in Trump Tower. Both Trump sons serve as advisors and investors in Dominari and contributed capital to the Quantum Leap Energy note offering.
This investment represents the latest in a series of high-profile financial moves involving the former president’s family. Their recent portfolio includes backing through 1789 Capital—where Donald Trump Jr. became a partner last year—in companies ranging from rare earth magnets to aerospace manufacturing, alongside ventures in drones, SPACs, and Bitcoin mining.
Nuclear Technology and Expansion Plans
Quantum Leap Energy specializes in enriching isotopes primarily for nuclear energy production. According to company filings, its technology can achieve this process at a fraction of the cost of traditional facilities. The company intends to use the offering proceeds to “build and develop laser enrichment production facilities” in South Africa.
The private placement includes offerings to both domestic and foreign investors. Canaccord Genuity Group Inc. arranged the U.S. portion of the placement, while Ocean Wall Ltd. handled the foreign transaction.
Path to Public Listing
The convertible notes are scheduled to convert into stock if Quantum Leap Energy proceeds with a public listing or under other specified conditions. ASP Isotopes had previously targeted a fourth-quarter public listing for the unit, though timing remains uncertain due to the recent U.S. government shutdown.
The offering is expected to close on November 10, pending standard closing conditions. The issuance will trigger the automatic conversion of promissory notes issued in March and June of 2024.
Source: Bloomberg. Original reporting by Moneyweb.