ASP Isotopes Inc. (ASPI) has entered into a definitive merger agreement to combine its wholly-owned subsidiaries, Noble Africa LLC and Renergen Limited, with ENDRA Life Sciences Inc. The transaction includes a concurrent private placement raising approximately $50 million. Following the merger, ENDRA will be renamed Noble Africa Inc., and ASPI will hold a controlling voting interest in the combined entity through super-voting Class B shares.
Key Details
- Merger Agreement: On June 25, 2026, ASPI and ENDRA Life Sciences entered into a merger agreement where ENDRA's subsidiary will merge with ASPI's subsidiary, Noble Africa LLC. Noble Africa will survive as a subsidiary of ENDRA, which will be renamed Noble Africa Inc.
- Concurrent Investment: Noble Africa LLC secured approximately $50 million in gross proceeds through a private placement of units at $6.57 per unit. This investment is scheduled to close immediately before the merger.
- Asset Contribution & Control: Prior to the merger, ASPI will contribute its equity in Renergen Limited to Noble Africa. Post-merger, ASPI's resulting Class B Common Stock will carry 10 votes per share, ensuring significant voting control. The new board will have seven directors, five of whom will be designated by Noble.
- Closing Condition: The transaction is subject to customary closing conditions, including ENDRA stockholder approval, and has a termination date of December 24, 2026, if the closing has not occurred.