Live News • Jul 04
Shareholder Rights Law Firm Probes ENDRA Life Sciences Merger with Noble Africa LLC Monteverde & Associates PC has opened an investigation into ENDRA Life Sciences’ proposed merger with Noble Africa LLC, focusing on the terms under which existing ENDRA shareholders are expected to own about 3% of the combined company at closing.
The investigation highlights potential concerns around the valuation and fairness of the exchange ratio, as the merger structure implies substantial dilution for current ENDRA Life Sciences investors.
ENDRA Life Sciences’ stock trades at US$4.72, with the share price down 6.3% over the past day, setting this legal scrutiny against a backdrop of recent share price pressure.
This kind of shareholder rights review often centers on whether the board secured the best terms reasonably available. As a result, the final merger documentation and any subsequent legal findings could be important for investors assessing ownership dilution and governance risk. Recent Insider Transactions Derivative • Jun 26
Independent Director notifies of intention to sell stock Anthony DiGiandomenico intends to sell 71k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of June. If the sale is conducted around the recent share price of US$6.00, it would amount to US$425k. Since December 2025, Anthony has owned 70.88k shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Announcement • Jun 26
Noble Africa LLC entered into an agreement to acquire ENDRA Life Sciences Inc. (NasdaqCM:NDRA) in a reverse merger transaction. Noble Africa LLC entered into an agreement to acquire ENDRA Life Sciences Inc. (NasdaqCM:NDRA) in a reverse merger transaction on June 25, 2026. Under the terms of the merger agreement, as of the closing of the Proposed Transactions, ASP Isotopes is expected to own
approximately 89% of the combined company, the pre-closing ENDRA stockholders are expected to own approximately 3% of the combined company, and investors in the private placement financing (other than ASPI) are expected to own approximately 7% of the combined company. Upon completion of the Proposed Transactions, the combined company plans to operate under the name Noble Africa Inc. and will apply to trade on The Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbol “NOBA.”
The combined company will initially be led by Paul Mann, Chief Executive Officer of Renergen and Chief Executive Officer and Executive Chairman of ASP Isotopes, and Nick Mitchell, Chief Operating Officer of Renergen and Co-Chief Operating Officer of ASP Isotopes. The combined company’s Board of Directors will consist of five directors selected by ASP Isotopes, including the Chief Executive Officer of the combined company, four non-executive directors designated by ASP Isotopes and one non-executive director designated by ENDRA.
The transaction is subject to ENDRA Life Sciences having a cash equal to, or greater than, $3,800,002.59, approval of offer by ENDRA Life Sciences shareholders, registration statement effectiveness, and listing / approval of new shares on stock exchange. The deal has been unanimously approved by the board. The expected completion of the transaction is in the third or fourth quarter of 2026.
Matthew Fry, Rachel O’Donnell, and Simin Sun of Haynes and Boone, LLP acted as legal advisor for Noble Africa LLC. Coleman Wombwell and Patrick Rogers of K&L Gates LLP acted as legal advisor for ENDRA Life Sciences Inc. Lucid Capital Markets, LLC acted as financial advisor for ENDRA Life Sciences Inc. 
