what are you talking about? why would MG issue "like an IPO"? there is no IPO-like pricing in this context. the issuance is in connection with a merger, so an exchange ratio is set. that can be done one of 3 ways --- a fixed exchange ratio, a floating exchange ratio (based on value of skto vs mg as of some future date) or a floating exchange ratio with a floor/cap. pinkies normally do it the first way.
and if they're correct in their analysis that no skto shareholder approval was required to approve the merger, you may not see an S-1 or S-4 registration statement, they may just file a Form 10 --- and that won't have anything resembling a price.