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JUST IN: DOORDASH FILES DEFINITIVE NOTICE OF ITS DELAWARE EXIT — THE REQUIRED 20-DAY WAITING PERIOD IS NOW UNDERWAY.
DoorDash’s Aug. 27 Schedule 14C says its board compared Delaware with Nevada and Texas and concluded Nevada’s statute-based system is likely to provide greater predictability in corporate governance and litigation than Delaware. The company says it expects to complete the Nevada reincorporation as soon as practicable after the waiting period.
DoorDash’s founders and other consenting shareholders already control 54.2% of the voting power, so no additional shareholder vote is required. The definitive notice is now out and the conversion process is moving toward completion.