ASP Isotopes to Form Nasdaq-Listed Noble Africa with $50m Raise and 89% Stake
NDRA•ASP Isotopes will merge Noble Africa LLC with an ENDRA Life Sciences unit to form Noble Africa Inc., a Nasdaq-listed helium platform for Renergen’s Virginia Gas Project. Due in late 2026, the merger includes a $50m raise allocating 89% to ASP, 3% to ENDRA shareholders and 7% to investors.
1. Merger Overview
ASP Isotopes plans to merge Noble Africa LLC, its Renergen intermediate holding, with an ENDRA Life Sciences subsidiary to form Noble Africa Inc., a Nasdaq-listed helium platform for Renergen’s Virginia Gas Project. Both boards have approved the transaction, expected to complete in the third or fourth quarter of 2026.
2. Ownership Breakdown
Under the terms, ASP Isotopes will hold approximately 89% of the combined entity, ENDRA shareholders will own 3%, and investors in the financing will control the remaining 7%.
3. Private Placement Financing
The transaction includes a concurrent $50 million private placement, with commitments of $20 million from ASP Isotopes and $30 million from institutional and non-U.S. investors, to close immediately prior to merger completion.
4. Strategic Implications
The merger establishes a dedicated public vehicle to develop helium resources from Renergen’s Virginia Gas Project in South Africa, positioning Noble Africa Inc. to address growing demand for secure helium supply.
