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๐จ JUST IN: SPRUCE POWER SHAREHOLDERS VOTE TO LEAVE DELAWARE FOR TEXAS.
The NYSE company disclosed this morning that investors approved the redomiciliation by roughly 9.8 million votes to 1.5 million.
Its board cited reduced litigation risk, Texasโ codified business judgment rule, lower costs, a more favorable business environment and greater certainty for corporate decisionmakers. The board also explicitly reviewed growing โDExitโ momentum before choosing Texas.
ISS recommended against the move. Shareholders approved it anyway.