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ASP Isotopes' Noble Africa to Merge With Endra

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ASP Isotopes (ASPI) said Thursday its Noble Africa unit will merge with a subsidiary of Endra Life Sciences (NDRA) in a deal expected to result in a Nasdaq-listed company trading under the ticker NOBA.

The deal includes a concurrent private placement expected to generate about $50 million in gross proceeds to support the development of Renergen's Virginia Gas Project.

Upon closing, ASP Isotopes is expected to own about 89% of the combined company, with the transaction anticipated to close in Q3 or Q4.

Shares of the company were down 9.6% in Thursday trading.

Price: $6.39, Change: $-0.68, Percent Change: -9.55%

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