SRXH has put over 10%+ of the treasury into Space and AI optionality which includes SpaceX. I would repeat it but if you didn't get it the first time... you wouldn't get it the second time.
Enjoy!
A very light S-4 amended filing was dropped today in response to the SEC first round comments. Unfortunately we weren't able to get a no-comment round, but luckily it came fast and it had very minor updates/clarifications amendments made which signals the next review has a high chance of approval.
8K Effect -> 14C -> 20 Calendar Days -> Shareholder Vote and close. So estimated could be around 30 more days until final closure.
As Eric puts it, We are in the P5 Level of the parking garage right now.
A lot of people may be reading this that are new to the SRXH / EMJX family. Welcome Aboard!!
I wanted to layout what most likely will happen post-S4 filing and note any unknowns at this point.
First, you need to understand the S-4 and Merger Agreement were constructed in such a way to try and get a speedy SEC review and approval with the hope that there will be NO SEC comments on first submission. These include onboarding Eric as a non-CEO, not including ticker/company name change, and not including EHIQ/Tonality in the merger agreement. This matters because every back and forth with the SEC could add 4 to 6 weeks on to the timeline.
Now this doesn't mean those things wont happen. It just means that they are NOT part of this merger agreement (Nor do they have to be).
Timeline
Apr 14th: S-4 Registration Statement filed. The clock started with the SEC.
*May 12th: Expect to either see an Effective 8-K filed (Reverse Merger "Approved") or an S-4a (SEC had comments to be resolved, SRXH amended it with updates)
* The SEC doesn't have a deadline but typical estimated for reviews range from 4 to 6 weeks it appears, maybe sooner if we are lucky. Will use 30 days here.
**May 13th: 424B3 Prospectus filed and sent to shareholders for review with the update 20-VWAP share price for the 55M EMJX buyout.
** If the S-4a is filed, then tack on an estimated 30 more days for another SEC review of the updates. Will assume they get the initial approval with no comments.
( Mandatory minimum 20 day waiting period before Shareholder meeting and vote )
June 2nd: Shareholder Vote and Reverse Merger Officially closed.
***June 2nd: The board can choose to appoint a new CEO and replace board members/chair that resign (no share holder vote needed). This is where Eric can be appointed the CEO. The board members my choose to step down and be replaced or do it via another shareholder vote later on.
***The same day or soon after, Not during the shareholder meeting since the S-4 didn't have it listed as a proposal to vote on.
June 3rd: 8-K filing for ticker and name change... effective a couple days after. This doesn't need to be immediately file.. they can wait on this if they want.
June X: EHIQ/Tonality licensed/purchased via EMJX
June X: EMJX regain NYSE compliance for Shareholder Equity deficiencies
June 30th: Incase the SEC review drags on past June 30th, the merger agreement enters into a state where either party could walk away from the agreement and terminate it. They also have the option of signing an updated agreement to extend the deadline.
The main factor if shifting the whole timeline is when the SEC gets their initial review returned and if it contained comments that needed to be addressed.
Cheers!