Company: FORA
Filing Date: 2025-12-04
Form Type: PRE 14A
Source: 0001140361-25-044359
Chunk: 34

Company: Forian Inc.
Filing Date: 2025-12-04
Form: PRE 14A
Chunk 34
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other than a sale to a wholly owned subsidiary), transfer, domestication, continuance or dissolution must be approved by the corporation’s board of directors and a majority in voting power of the outstanding shares entitled to vote thereon. |     | Under the MGCL, a Maryland corporation generally may not dissolve, merge or consolidate with, or convert to, another entity, sell all or substantially all of its assets or engage in a statutory share exchange unless the action is declared advisable by the board of directors and approved by the affirmative vote of stockholders entitled to cast at least two-thirds of the votes entitled to be cast on the matter, unless a lesser percentage (but not less than a majority of all of the votes entitled to be cast on the matter) is specified in the corporation’s charter.                                                               
 The Maryland Charter will provide that these actions must be approved by the affirmative vote of the holders of shares entitled to cast a majority of all the votes entitled to be cast on the matter.                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Control Share Acquisitions: |     | Delaware does not have a control share acquisition statute.                                                                                                                                                                                                                                                                                                                  |     | The Maryland Bylaws will contain a provision that exempts from the control share acquisition statute any and all acquisitions by any person of any shares of Common Stock, including the Consortium.                                                                                                                                                                                                                                                                                                                                                                                                                                                  
 The MGCL provides that a holder of “control shares” of a Maryland corporation acquired in a “control share acquisition” has no voting rights with respect to the control shares except to the extent approved by the affirmative vote of two-thirds of the votes entitled to be cast on the matter, excluding shares of stock in respect of which any of the following persons is entitled to exercise or direct the exercise of the voting power of such shares in the election of directors: (a) a person who makes or proposes to make a control share acquisition, (b) an officer of the corporation or (c) an employee of the corporation who is |

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| Delaware |     | Maryland                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|          |     | also a director of the corporation. “Control shares” are voting shares of stock which, if aggregated with all other such shares of stock owned by the acquirer, or in respect of which the acquirer is able to exercise or direct the exercise of voting power (except solely by virtue of a revocable proxy), that would entitle the acquirer to exercise voting power in electing directors within one of the following ranges of voting power: (i)