Sep. 9 at 5:20 PM
$TVE $HWX — The Tamarack/Headwater deal isn't just a C
$10B merger.
It also creates Tributary Exploration, a new company with the McCully gas field, cash, exploration acreage, warrants and—most importantly—the team that built Headwater.
The parallels to Headwater's own 2020 creation are striking. I broke down the cap table, NAV, warrants and where the opportunity may actually emerge after the distribution:
https://www.stockspinoffs.com/2026/09/09/tributary-exploration-spinoff-tamarack-headwater/