
Corporate GovernanceJun 17, 2026, 05:02 PM
Nexalin Technology Amends Bylaws, Lowers Quorum to One-Third
AI Summary
Nexalin Technology, Inc. adopted its Second Amended and Restated Bylaws, effective June 16, 2026. These amendments revise advance notice procedures for stockholder nominations and business, modify special meeting nomination processes, and update various stockholder meeting provisions. Notably, the quorum standard for stockholder meetings was lowered from a majority to one-third of outstanding shares, and procedures for stockholder action by written consent were introduced. The bylaws also include revisions to Board structure, director terms, officer provisions, and add a forum selection clause for certain corporate claims.
Key Highlights
- Adopted Second Amended and Restated Bylaws effective June 16, 2026.
- Revised advance notice procedures for stockholder director nominations and business.
- Lowered stockholder meeting quorum from a majority to one-third of voting power.
- Introduced procedures for stockholder action by written consent without a meeting.
- Updated provisions for Board structure, director terms, and meeting procedures.
- Added forum selection clause for internal corporate and Securities Act claims.
- Amended indemnification and advancement provisions for directors and officers.
Price Impact
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