M&A
confidence high
sentiment positive
materiality 0.90
Onfolio enters binding LOI to acquire Paramount Helium; targets $3B helium resource, ticker to PRMT
Onfolio Holdings, Inc
- Issues convertible preferred stock convertible into 50M common shares (subject to stockholder approval) to acquire Paramount Helium.
- Requires at least $11.3M in equity funding; closing targeted by July 24, 2026.
- Company to change name to Paramount Helium Corporation and ticker to PRMT; new CEO Steven Looper.
- Resource estimated at 20B cubic feet of helium (~$3B value) and includes helium-3 for quantum computing.
- New board includes David Hobbs (Executive Chairman), Steven Looper (CEO), Adam Trainor (CFO).