New Era Helium to merge with Accretion Acquisition


Exploration and production company New Era Helium (NEH) and Accretion Acquisition have entered into a non-binding Letter of Intent (LoI) for a proposed business combination.

Accretion is a special purpose acquisition company formed for the purpose of consummating a business combination with one or more businesses, and its securities are currently listed for trading on the Nasdaq stock market.

NEH is expected to hold a majority interest in the equity, on a fully diluted basis, of the combined company at the closing of the business combination.

Will Gray, Chairman and CEO of NEH, said the transaction creates an aggregation model for upstream helium and positions the company as one of the first to list on a major exchange.

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