Fresh Vine Wine Inc (VINE) has released an update to notify the public and investors about corporate charter and bylaws modifications.
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Upon entering the Merger Agreement on January 25, 2024, Fresh Vine’s board of directors amended the company’s bylaws by adding a new Article XI. This amendment exempts any acquisition of a controlling interest in Fresh Vine resulting from the Merger Agreement from being subject to Nevada’s “Acquisition of Controlling Interest” laws. It includes acquisitions of Fresh Vine stock through the merger, pursuant to related agreements, or through the conversion of Series A Convertible Preferred Stock, a condition for completing the merger transactions. The detailed amendment is documented in Exhibit 3.1 of the Current Report.
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