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JP888

04/27/23 4:18 PM

#181832 RE: jobynimble #181831

They can start the spin-out process once the audits are completed (early May). From there, it’s how quickly the SEC handles it and any comments they may have. Sometimes it’s having the right SEC reviewer.

I’ve seen some spin-outs move quickly based on the reviewer and amount of comments. The July timeframe is about right based on early May audits completed. IMO