No, they won’t be RM’ing into this shell and handing over any percentage of the ownership over to its bagholders. The only reason to go public is to gain access to the public markets/exchanges to sell stock and raise capital.
This stinky pink myth that it’s “cheaper” to hand over equity ownership to the shareholders of a dead company in a RM just to “be public” is just that, a myth used to form the foundation of a pump and dump. No legitimate companies do that, it would be really stupid. They do an IPO when they want/need capital for growth, selling stock as a stake in their company, and getting the cash from that sale. The stock in HGYN’s O/S was sold long ago, the cash it gone, and they aren’t going to hand over any ownership for nothing.