Reading the proxy and taking in to account the way the company has been run since early 2016 (maybe 2012). I expect the worse case scenario is the company trying to declare bankruptcy if the deal doesn't go through.
Another company may or may not come through, worst case, one doesn't.
In response to declaring bankruptcy, I would expect one or more class action shareholder lawsuits to pop up. This could drive away any other potential suitors for the company, unless a great deal for shareholders can be made.
I'm thinking the strategy for a shareholder lawsuit would be, recovery of shareholder losses and control of the company from Stan and Gill. Do a forensic accounting audit, stretching back to the formation of the company. Retain Stan as Chief Creative Officer, if he chooses to stay. Seek interim financing, seek recovery of any money owed to the company and any lost revenue due to rights violations. Start a company store selling items with Stan Lee's name and likeness on them. Then seek a new potential partner/buyer for exploitation of POW!'s IP (4 to 6 new projects a year mostly graphic novels of different lengths).
I would expect POW! to be financially stable in it's second or third year.
Edit
That was off the top of my head. If I give it some thought my answer might change.