AERWINS to redesign XTURISMO hoverbike, explores JV; considers selling non-core assets

AERWINS Technologies Inc.

Quorum reduced to 33⅓% for stockholder meetings per amended bylaws.
Redesign of XTURISMO Ltd Edition prototype includes new powerplant, fuel source, airframe stabilization, upgraded seat, harness wiring.
In talks with FAA-approved JV partners for technical/engineering and financial support.
Evaluating strategic alternatives (sale/disposition) for non-core COSMOS UTM system and shared computing business.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

AERWINS Technologies Inc.: Reduced stockholder meeting quorum from majority to one-third of outstanding shares (effective 2023-09-26).

Change: bylaw amendment
Effective: 2023-09-26

Exact text from the filing

The Amended and Restated Bylaws reduced the required quorum at all meetings of the Company’s stockholders for the transaction of business, except as otherwise provided by statute or by the Company’s articles of incorporation, as amended, to one-third (331⁄3%) of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy

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Source: SEC EDGAR

accession 0001493152-23-034827

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