Mar. 19 at 4:15 AM
$TGLO Delfin Midstream is already the majority owner (roughly 71%) of TGLO (theglobe.com) and has been using it as a public shell company since 2017. A "reverse merger"—where Delfin merges into TGLO to become a publicly traded entity—has long been planned, following a similar playbook to other LNG companies.
While TGLO is listed on the OTC Markets (often considered part of the "pink sheets"), a merger with Delfin—which is developing a multibillion-dollar LNG project with significant contracts—is aimed at raising capital and moving the entity toward mainstream listing.
Key Aspects of the Potential Merger:
Relationship Status: Delfin Midstream acquired a majority stake in TGLO on Dec. 31, 2017, for roughly
$0.03 million.
Reverse Merger Goal: Delfin has previously stated it may enter an agreement to merge with TGLO, sell assets to it, or consolidate its business into the shell company to access public capital markets.
Status of Project: Delfin is developing the first offshore
