Because if he does not do a R/S pre-merger there will be a bigger rollback after merger, a rollback in which HIS Aero shareholders must participate and may not like. Think about it from an Aero Shareholders standpoint. Why would they merge just to then be rolled back? Normal procedure is to roll back the shell to take care of any skeletons and then merger in the deal.
And as to other shells out there .... there are many. Some with cash.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.