"Additionally, Mr. Moscato will discuss the timing for the planned spin-out of NuGenerex Immuno-Oncology (NGIO) as a separate, publicly-traded company, together with the proposed merger with Kiromic, a cutting-edge, clinical stage oncology research company with multiple immunotherapeutic platforms, including CAR-T, CAR-NK, oral vaccines, and Artificial Intelligence (AI) Platform for Neo-antigen identification and personalized immunotherapy."

Does "spin-out" mean IPO? What other way could NGIO become "a separate, publicly-traded company? Could a shell company be acquired so that NGIO and Kiromics would both fit under its umbrella? I get lost in the weeds with some of this financial engineering.