The problem is there are lots of shells shopping for buyers. Merger deals are falling through left and right. From what I’ve read, a lot of companies are skeptical that market conditions will let them raise enough capital without crashing share price. Real companies worth >200M will consider SPAC’s or IPO’s, just not right now.
There are other shells out there with better share structures shopping around too. TNB! And NL$C to name a couple. Saying a merger by year end is aggressive if you want one with substance.
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