It’s not my first guess, but everyone should be aware that it could be months between FID and merger.
0-90 days would not be unusual in this industry (From some examples I saw) or out of character for Delfin themselves. Say 4-6 months worst case. Beyond that I would begin to question.
Pushing it all the way out until revenue though, the more I think about it (and the more I discussed it with ChatGPT) the more that doesn’t make sense, since the stock is for the capital raise and later liquidity while we wait a few years.
If it doesn’t happen day one or day 60 then I just wouldn’t worry is all.
Bullish