There is an Independent Alliance already, with five of the left leaning MPs, including Jeremy Corbyn. I can’t see them sharing any beliefs with Rupert Lowe.
Of the ten other current Independents, there are some who are suspended by their own parties, who I’m guessing, if for shameful reasons, Lowe would not want to be associated with, but I guess potentially some of the rest could join a new party, as could some existing Reform MPs? I wonder about Jacob Rees Mogg, whose previous seat is up for grabs again. I’d be very surprised if he stood for Reform, but he might for a new right wing party.