they're going to reg A+ IPO/spinout each sub, it s

they're going to reg A+ IPO/spinout each sub, it shouldn't be a surprise. They want to do elto first because all we need is an IPO and it's the simplest bio story, and maybe the one we're least interested in maintaining controlling interest in. Think it's a combo of the two. It's packed up and ready to go with willing buyers of an IPO that may come. ESS we still need to do this and that on. MANF, ideally we don't want to give up any interest in MANF, or only at peak valuation. To do that, we need these other legs to be successful first.