New Era Helium and Roth CH Acquisition V announced today a definitive merger agreement at a pre-money valuation of $90 million. The target is an exploration and production company that sources helium produced in association with the production of natural gas reserves in North America.
If the deal is approved, New Era Helium is expected to list on the Nasdaq.
Existing NEH stockholders will not receive any cash proceeds from the transaction and will roll 100% of their equity into the combined company. Roth CH V and NEH intend to raise a PIPE that will close with the business combination.
Roth CH V in April signed a letter of intent with LiveOne’s Slacker, a music streaming service, for a potential merger, although the LOI was allowed to expire by mutual agreement in October. Read more.
