Yes. Saves a lot of time and money if a private company can reverse merge into a shell and become a listed company very quickly. They can even change the ticker symbol. There are specialists that clean up shells and sell them.
I don't know if you remember SPEA (now CKXE) but they were a shell that had disposed of their operating business in the second and third quarters of 2002 until December 2004 when they made an agreement with a private company called Elvis Presley Enterprises.
SPEA went from .10 to finish the week over $9/share on its way to a peak of $30.65 in May, 2005. Incredible true story. I was there when it happened.
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