New Era Helium to go public via SPAC

The helium exploration firm New Era Helium plans to go public through a special purpose acquisition company (SPAC) merger sponsored by the investment banking firm Roth Capital Partners. New Era says the deal values it at about $90 million. The firm says it has exploration rights on around 870 km in New Mexico that contain 57 million m³ of helium. Roth has been involved in a number of SPAC deals, which allow a private company to list on public stock exchanges by merging with a publicly traded shell company, including one with the polypropylene recycler PureCycle.