Company: ORBS
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004802
Chunk: 20

Company: Eightco Holdings Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 20
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. In such circumstances,
the trading price of our securities may not recover and may experience a further decline.

18

Anti-takeover
provisions contained in our Certificate of Incorporation and Bylaws, as well as provisions of Delaware law, could impair a takeover attempt.

Eightco’s
Certificate of Incorporation, Bylaws and Delaware law contain provisions
that are intended to deter coercive takeover practices and inadequate takeover bids by making such practices or bids unacceptably expensive
to the bidder and to encourage prospective acquirers to negotiate with Eightco’s board of directors rather than to attempt a hostile
takeover. These provisions include, among others:

    ●
    rules
    regarding how stockholders may present proposals or nominate directors for election at stockholder meetings;

    ●
    the
    right of Eightco’s board of directors to issue preferred stock without stockholder approval;

    ●
    the
    ability of Eightco’s directors, and not stockholders, to fill vacancies (including those resulting from an enlargement of the
    board of directors) on Eightco’s board of directors;

    ●
    the
    division of Eightco’s board of directors into three classes of directors, with each class serving a staggered term; and

    ●
    a
    provision that directors serving on a classified board may be removed by stockholders only for cause.

In
addition, Eightco is subject to Section 203 of the Delaware General Corporation Law (the “DGCL”). Section 203 provides that,
subject to limited exceptions, persons that (without prior board approval) acquire, or are affiliated with a person that acquires, more
than 15 percent of the outstanding voting stock of a Delaware corporation shall not engage in any business combination with that corporation,
including by merger, consolidation or acquisitions of additional shares, for a three-year period following the date on which that person
or its affiliate becomes the holder of more than 15 percent of the corporation’s outstanding voting stock.

19

Eightco
believes these provisions will protect its stockholders from coercive or otherwise unfair takeover tactics by requiring potential acquirers
to negotiate with Eightco’s board of directors and by providing Eightco’s board of directors with more time to assess any
acquisition proposal. These provisions are not intended to make Eightco immune from takeovers. However, these provisions will apply even
if the offer may be considered beneficial by some stockholders and could delay or prevent an acquisition that Eightco’s board of