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JUST IN: NASDAQ-LISTED ARRIVE AI HAS APPROVED A MOVE FROM DELAWARE TO NEVADA.
The autonomous-delivery company’s board and holders representing 50.1% of its voting power approved the redomestication on September 4. Arrive says Nevada will eliminate its annual Delaware franchise tax and provide greater protection for directors and officers from litigation.
The company went further: despite Delaware’s recent corporate-law reforms, Arrive says Nevada’s statute-focused system is more “stable, predictable and efficient” than a Delaware regime that continues to develop through court decisions. Its Nasdaq listing will remain unchanged.