ASP Isotopes to spin off Renergen helium unit via reverse merger with ENDRA, raising $50M

Filed June 25, 2026 · Period ending June 25, 2026 · ~2 min read

Key Changes

• high

  ASPI subsidiary Noble Africa will merge with ENDRA Life Sciences in a reverse merger, with Noble surviving. ASPI will contribute its Renergen helium subsidiary to Noble and retain ~89% ownership with 10-vote Class B shares, controlling the board (5 of 7 seats). Combined company to trade as Noble Africa Inc. (NOBA) on Nasdaq.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Noble Africa secured $50M in private placement commitments at $6.57/unit, with ASPI investing $20M as lead investor and other investors (including $750K from ASPI executives and directors) contributing $30M. Financing closes immediately before merger, expected Q3-Q4 2026.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  ASPI expanding its loan facility to Renergen to $200M and will provide ongoing admin services to the combined company for cost-plus fees. Post-merger agreements include helium sales and consolidated financial reporting requirements, maintaining operational ties.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →