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ASP Isotopes Announces Proposed Merger of Noble Africa with ENDRA Life Sciences and Approximately $50 Million Concurrent Private Placement Financing
DALLAS & ANN ARBOR, Mich., June 25, 2026--ASP Isotopes Inc. (NASDAQ: ASPI) ("ASP Isotopes," "ASPI" or the "Company"), an advanced materials company focused on developing technologies and processes for the production of critical materials used in multiple industries, and ENDRA Life Sciences Inc. (NASDAQ: NDRA) ("ENDRA" or "NDRA"), a pioneer in thermoacoustic biomarker imaging for early detection and monitoring of steatotic liver disease (SLD), today announced that ASP Isotopes’ wholly-owned subsi
About this update from Asp Isotopes Inc.
Combination, if successful, would establish Noble Africa as a Nasdaq-listed, helium platform for Renergen's Virginia Gas Project Listing expected to provide investors with direct exposure to one of the few publicly traded helium development assets globally, at a time of tightening supply Concurrent private placement expected to generate approximately $50 million in gross proceeds to support project development DALLAS & ANN ARBOR, Mich., June 25, 2026 --( BUSINESS WIRE )--ASP Isotopes Inc. (NASDAQ: ASPI) ("ASP Isotopes," "ASPI" or the "Company"), an advanced materials company focused on developing technologies and processes for the production of critical materials used in multiple industries, and ENDRA Life Sciences Inc. (NASDAQ: NDRA) ("ENDRA" or "NDRA"), a pioneer in thermoacoustic biomarker imaging for early detection and monitoring of steatotic liver disease (SLD), today announced that ASP Isotopes' wholly-owned subsidiary, Noble Africa LLC ("Noble Africa"), an intermediate holding company for Renergen Limited ("Renergen"), will merge with a subsidiary of ENDRA, with Noble Africa continuing as the surviving entity (the "Proposed Merger" and, together with the related transactions, the "Proposed Transactions"). Upon completion of the Proposed Transactions, the combined company plans to operate under the name Noble Africa Inc. and will apply to trade on The Nasdaq Stock Market LLC ("Nasdaq") under the ticker symbol "NOBA." In connection with the Proposed Transactions, Noble Africa has entered into subscription agreements with certain accredited investors, qualified institutional buyers and non U.S.-persons securing commitments for a private placement into Noble Africa that is expected to result in total gross proceeds of approximately $50 million, including approximately $20 million from ASP Isotopes, as the lead investor, and approximately $30 million from other investors, including $750,000 from certain directors and management of ASP Isotopes. The private placement financing is expected to close immediately prior to completion of the Proposed Merger. " We believe this transaction represents an important step in positioning Renergen's Virginia Gas Project as a dedicated, publicly traded platform at a time when secure, reliable helium supply is increasingly important to critical industries, " said Paul Mann, Chief Executive Officer and Executive Chairman of ASP Isotopes. " The Proposed Merger and concurrent financing are expected to provide Noble Africa with the capital structure, public market access and funding needed to advance Phase 1 and Phase 2 development, while allowing ASP Isotopes stockholders to retain meaningful exposure to the long-term opportunity. "