Company: ORBS
Filing Date: 2025-12-01
Form Type: DEF 14A
Source: 0001493152-25-025615
Chunk: 43

Company: Eightco Holdings Inc.
Filing Date: 2025-12-01
Form: DEF 14A
Chunk 43
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 Texas Redomestication. The Texas Redomestication may be delayed by the Board or the Plan of Conversion may be terminated and abandoned by action of the Board at any time prior to the Effective Time of the Texas Redomestication, whether before or after the approval by our stockholders, if the Board determines for any reason that such delay or abandonment would be in the best interests of the Company and all of its stockholders, as the case may be.

Following the Texas Redomestication, we will be governed by the TBOC instead of the DGCL, and we will be governed by the Texas Charter and Texas Bylaws. Approval of this Proposal will constitute approval of the Texas Charter and Texas Bylaws. Our current Certificate of Incorporation (as amended, the “Delaware Charter”) and our current Bylaws (the “Delaware Bylaws”) will no longer be in effect following completion of the Texas Redomestication. Delaware and Texas provide substantially equivalent bundles of economic, governance, and litigation rights for stockholders, balancing relevant considerations against one another and as relevant to the Company. However, there were two differentiating factors: (1) Texas statutory law on corporate constituencies would better align with the Company’s mission-driven culture; and (2) Delaware has an established and respected business court and the largest body of corporate case law in the country, whereas relatively recently Texas has created a business court, but the Texas statutes are more favorable to the Company and its shareholders. The Board balanced these considerations and concluded that, in its business judgment, it is in the best interests of the Company and all its stockholders for the Company to reincorporate in Texas. The Board, in this evaluation, included an examination of the effect of redomestication on the economic, governance, and litigation rights of stockholders (See Annex D).

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Governance Rights .The Board concluded that governance rights are effectively the same in both states. For example, both Delaware and Texas have similar rules on classified boards, the removal of directors, charter and bylaw amendments, blank check preferred stock, stock buybacks, dividends, and appraisal. Where there may appear to be distinctions, the Board concluded that: most were differences in default rules that could be resolved in a Texas charter and bylaws.

Litigation Rights.The Board identified no areas in which Texas and Delaware law meaningfully diverged on matters of substance. In most areas the Board examined, Texas and Delaware law apply essentially the same substantive rule, though Texas sometimes artic