ENDRA Life Sciences amends merger deal with ASP Isotopes affiliate, drops classified board requirement
NDRA•ENDRA Life Sciences amended its planned merger with ASP Isotopes unit Noble Africa, resetting a cash closing condition to $3,800,002.59 and revising governance and warrant terms. Renergen’s borrowing capacity under an ASPI term loan facility increased to $120 million, with a further increase to $200 million contemplated by closing.
1. Merger terms amended
The amended terms for ENDRA Life Sciences’ planned combination with ASP Isotopes unit Noble Africa, which would become an ENDRA subsidiary, reset the cash closing condition to $3,800,002.59, net of certain agreed investor relations expenses. The changes drop the classified board requirement and related charter supermajority voting provisions, and remove a 4.99% beneficial ownership cap on warrant exercises by an ASP affiliate. Renergen’s borrowing capacity under an ASPI term loan facility rose to $120 million, with a further increase to $200 million contemplated by closing.
