The 251(g) Reorganization is a process that allows a Delaware corporation to reorganize itself into a holding company structure without requiring stockholder approval. The primary purpose of a 251(g) reorganization is to eliminate debt in the public entity. This reorganization allows the newly formed holding company (New APOLLO BioWellness Inc.) to become a public entity without needing a vote from the stockholders. The specific duration for completing a 251(g) reorganization can vary based on the circumstances, legal requirements, and the complexity of the transaction. However, the process typically involves legal documentation, board approvals, and compliance with statutory provisions. These are the steps they already completed. Now all they need is to submit the application and wait for the approval.
So, companies undergoing a 251(g) reorganization can continue their regular business operations, including issuing news or press releases. In general, the timeline for completing a 251(g) reorganization can vary from a few weeks to several months.
Waiting for a few weeks or months can be extremely challenging for many investors on Ihub. While some may come and go, I am committed to staying invested. Opportunities like this come once in a lifetime, especially with a leader like Mr. Morrison at the helm and his significant influence. His leadership provides me with the assurance I need to remain focused on my investment.
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