I believe that Sellers plans to incorporate the new company in another state (if you search for him in Alabama, where he lives, you'll find he started 10+ companies/orgs in Alabama in the 90's and 00's). Makes sense since this will all be a fresh start; with a new business. Should be a new ticker/name; I'm not that knowledgeable to understand if that involves more work to file all the paperwork. I would guess it is an easy transition, when you have a shell. That is likely why a shell worked for him.
Great day for all investors! Great job, all!