The purpose of doing an IPO and becoming a public company is to raise funds from the public in order to support a much larger company. And also allows the early venture capital investors to cash out.
If Merrimack were to take over GTC then they would not be raising any cash, and this is typically done when a company is too weak to be able to support their own IPO. To the market this would indicate a weakness with Merrimack.
My guess is that Merrimack would want to do their own IPO and not become public in this manner. It really makes little sense to me for them to become public in this manner unless there was something wrong with their business model.
Maybe Merrimack can do an investment or loan to GTC to keep them running in order for Merrimack to secure what they need from GTC. But an important question is, what else might Merrimack be testing?
jessellivermore says he has good info that GTC will be announcing a new partner quite soon. So GTC does not need a white knight, no worries here.
Market Data 
Markets 
AI
