You have to weigh that cost against what it costs to do an IPO by traditional means. The reason RM's and reverse acquisitions are popular is because they take far less time and cost far less than a traditional IPO for a private company that wants to go public.
The debts you mention are small in light of the fact that this is a shell that is clean - i.e. no old preferred shareholders being stubborn or needing a big payoff to give up their shares etc.
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