Twin Vee PowerCats reverses defective Nevada reincorporation; seeks stockholder ratification
Twin Vee PowerCats said its April 2026 reincorporation from Delaware to Nevada was invalid because it lacked sufficient stockholder approval, so it filed corrections to revoke the filings and remain a Delaware corporation. The company also amended its bylaws to lower the stockholder meeting quorum from a majority to at least one-third of voting shares, and filed a preliminary proxy seeking approval to ratify its 1-for-37 reverse stock split.
- Reincorporation to Nevada announced April 10, 2026 was revoked via filings on August 4, 2026; the company says it remains a Delaware corporation.
- Board approved a bylaw amendment on August 4, 2026 reducing the stockholder meeting quorum from a majority to at least 1/3 of outstanding voting shares.
- A 1-for-37 reverse stock split, executed April 30, 2026 with Board approval only, is subject to stockholder ratification under Delaware law, per a preliminary proxy filed August 4, 2026.