I explained it earlier. It is likely the reason we haven’t seen Devon close their HOA, despite being an investor in the company and having a stake in its future.
The reason we haven’t seen bigger and more contracts isn’t so much the non-public company factor (Tellurian was public), but rather the delay in FID and confidence in the project.
FID is when the project is certain (or close to as humanly possible) to come to fruition.
That’s when we would likely see more and bigger SPAs and HOAs closing.
Just like the banks not pulling the trigger until the ducks are lined up, same goes for these companies looking to buy.
Once FID comes then things might start getting even crazier than we think.
Those worried about reverse merger and split, you’ll have likely weeks to months of time to trade this after announcement and before those things can be approved by the company and the SEC/Exchanges.
In that time and before closing is when this thing will hopefully go crazy (What happened with Tellurian), but if we get a flurry of contracts on top of that in the same timespan then look out!
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