Quantum Leap Energy LLC announced that it has entered into a Convertible Note Purchase Agreement with accredited investors and certain non-U.S. persons for an initial closing of $64.3 million aggregate principal amount of QLE?s convertible notes (the "Notes") on November 7, 2025. The transaction was co-led by new investor American Ventures Management LLC and returning investor ASP Isotopes Inc and participation from individual investors Eric Trump and Donald Trump Jr.. The Notes will be unsecured and may be convertible into common equity securities of QLE, prior to maturity, and upon the occurrence of certain events, including an initial public offering, direct listing or a future equity financing, in each case at a price per share equal to the lower of 80% of the per share price in the applicable transaction or the per share value of one share of QLE?s common equity based on a set valuation cap.
The Notes will mature on the fifth anniversary of the initial closing, unless converted in accordance with their terms prior to such date. QLE may not repay the Notes prior to maturity, unless a change of control transaction occurs. The transaction is expected to close on November 17, 2025 or November 18, 2025.
