I disagreeI wouldn’t want to sign billion dollar binding...

I disagree
I wouldn’t want to sign billion dollar binding contracts with a company that is not even a listed entity.
the company may even change its name if listing on a different exchange.
Surely it would be safer to have the final company already established and listed on an exchange before committing to finance or binding contracts. Then there is no confusion over ownership of the various aspects of the project.
Maybe I’m missing something or am less trusting than mega Chinese companies who do these deals on a regular basis.