The business combination is expected to close late in the third quarter of 2024, and the combined company will operate under the Heidmar name and be listed on the Nasdaq Capital Market under the symbol “HMAR.” Heidmar is a commercial and pool management business serving the crude oil and refined petroleum product tanker market. 

“We are thrilled to announce this Business Combination Agreement with Heidmar, which we believe will position the combined company to capitalize on the evolving, underserved demands of the massive $370 billion global tanker shipping market. The fundamental strength of Heidmar’s profitable business, coupled with anticipated future growth fueled by its leading asset-light business model, provides a compelling and potentially transformative opportunity for our fellow MGO shareholders," said Maximiliano Ojeda, CEO of MGO.

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