Company: ORBS
Filing Date: 2025-11-21
Form Type: PRER14A
Source: 0001493152-25-024506
Chunk: 44

Company: Eightco Holdings Inc.
Filing Date: 2025-11-21
Form: PRER14A
Chunk 44
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 the stockholders collectively, the corporate opportunities doctrine, director exculpation, indemnification, advancement, the business judgment rule, and the entire fairness standard of judicial review. In addition, the Board considered that Delaware law has addressed a number of issues impacting public companies that Texas law has not (yet), including Caremarkoversight claims, public company conflicted controller transactions, and intermediate scrutiny of defensive tactics. However, Texas’s silence in these areas does not mean that Texas law is or will be meaningfully different from Delaware law. Texas courts often look to Delaware law to fill gaps in Texas law, and the Board concluded that there was no reason to believe that Texas law would provide substantially lesser litigation rights than Delaware in areas where it is currently silent. The Board identified two important areas with differences between Texas and Delaware stockholder litigation: procedural approaches to stockholder derivative claims and the fact that Texas recently began a specialized business court system. The Board concluded that these differences were procedural. In addition to its own analysis with its advisors, the Board took note of commentary comparing Delaware and Texas law, including of Institutional Shareholder Services’ prior statement that “reincorporation from Delaware to Texas would appear to have a neutral impact on shareholders’ rights,” and Glass Lewis’ prior statement that “in most respects, the corporate statutes in Delaware and Texas are comparable.” Both have previously recommended voting in favor of multiple Delaware-to-Texas reincorporations.

Certain Risks Associated with the Texas Redomestication.Although the Board believes that Texas Redomestication is in the best interests of the Company and all of its stockholders, there can be no assurance that the Texas Redomestication will result in all or any of the benefits described in this Proxy Statement, including the benefits of or resulting from incorporation under Texas or the application of Texas law to the internal affairs of the Company.

Extensive Delaware Case Law and Established Court System.The Delaware Court of Chancery and Supreme Court are highly respected and experienced business courts. They have an extensive body of case law. The trials are before judges who are experts in corporate law. Delaware statutory law is regularly updated by the legislature. The Delaware system has long and widely been lauded for its expertise. Texas’s business courts were relatively recently created. They have less existing corporate case law.

Certain Differences Between Delaware and Texas Law.Although the Board has determined that the rights of stockholders under the DGCL and the TBOC are substantially equivalent and as relevant to the Company, the DGCL and Delaware case law collectively are