Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 452

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1A
Chunk 452
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 as a Florida corporation and the anti-takeover provisions of the Florida Business Corporation Act, which we sometimes refer to
as the FBCA, may discourage, delay or prevent a change in control even if a change in control would be beneficial to our shareholders.

The
control share acquisition statute, Section 607.0902 of the FBCA, generally provides that in the event a person acquires voting shares
of the company in excess of 20% of the voting power of all of our issued and outstanding shares, such acquired shares will not have any
voting rights unless such rights are restored by the holders of a majority of the votes of each class or series entitled to vote separately,
excluding shares held by the person acquiring the control shares or any of our officers or employees who are also directors of the company.
Certain acquisitions of shares are exempt from these rules, such as shares acquired pursuant to the laws of intestate succession or pursuant
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;

    ●
    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.

43

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