Question - if this proposed type of reverse merger creates two new separate public traded/listed companies? Why is Wall Street, Stock Exchanges, Private Capital and Investment Bankers not advising clients to do this for a fee? I must not understand the concept very well.
The SB2 form would be needed to have the new shares start trading. The EXBX shares would continue to trade unless they were actively canceled by the company.
I don't know why the company wouldn't disclose this. Perhaps they just knew in their heads everything that was going to happen but didn't do a great job explaining it all in their public releases.
I agree that it would have helped tremendously if the disclosures were a little bit more clear on everything.
I agree that it seems too good to be true and if it is too good to be true then it usually means that we are missing something. I think it would have been a simple matter of another press release to clarify the intent. Not sure why the company didn't do this.
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