What law says you can’t move your family in a new house pending closing. Nothing, but it’s a legal jeopardy. Same with a shell stock before it’s closing is finalized.
Not only is it legally prudent it business prudent.
Why put a company in risk of the possibility of the shell having some problems and it would carry over then on the company. Recent history fact example is HMBL RM reversed merger into a shell with preferred shares out as debt that is now haunting Humble
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