Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 56

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 56
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to a gift or testamentary transfer, pursuant to a merger or share exchange effected in compliance with the FBCA if we are a party to
the agreement, or pursuant to an acquisition of our shares if the acquisition has been approved by our board of directors before the
acquisition. The control share acquisition statute generally applies to any “issuing public corporation,” which means a Florida
corporation which has:

    ●
    One
    hundred or more shareholders;

53

    ●
    Its
    principal place of business, its principal office, or substantial assets within Florida; and

    ●
    Either
    (i) more than 10% of its shareholders are resident in Florida; (ii) more than 10% of its shares are owned by residents of Florida;
    or (iii) one thousand shareholders are resident in Florida.

The
affiliated transaction (or so-called “business combination”) statute, Section 607.0901 of the FBCA, provides that we may
not engage in certain mergers, consolidations, sales of assets, issuances of stock, reclassifications, recapitalizations, and other affiliated
transactions with any “interested shareholder” for a period of three years following the time that such shareholder became
an interested shareholder, unless:

    ●
    Prior
    to the time that such shareholder became an interested shareholder, our board of directors approved either the affiliated transaction
    or the transaction which resulted in the shareholder becoming an interested shareholder; or;

    ●
    Upon
    consummation of the transaction that resulted in the shareholder becoming an interested shareholder, the interested shareholder owned
    at least 85% of our voting shares outstanding at the time the transaction commenced; or

    ●
    At
    or subsequent to the time that such shareholder became an interested shareholder, the affiliated transaction is approved by our board
    of directors and authorized at an annual or special meeting of shareholders, and not by written consent, by the affirmative vote
    of at least two-thirds of the outstanding voting shares which are not owned by the interested shareholder.

An
“interested shareholder” is generally defined as any person who is the beneficial owner of more than 15% of our outstanding
voting shares. Currently, Bay Shore Trust would be considered an “interested shareholder.”

The
voting requirements set forth above do not apply to a particular affiliated transaction if one or more conditions are met, including,
but not limited to, the following: if