Digital Ally terminates merger agreement with Clover Leaf Capital Corp.

KUSTOM ENTERTAINMENT, INC.

Mutual termination of merger agreement effective Nov 7, 2024; originally dated June 1, 2023 and amended twice.
Mutual release and covenant not to sue; only confidentiality and trust waiver provisions survive.
Ancillary documents (lock-up, sponsor forfeiture letter) automatically terminated.
Bylaws amended to reduce quorum requirement for stockholder meetings to 33 1/3%.

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

KUSTOM ENTERTAINMENT, INC.: Reduced the quorum requirement for stockholder meetings to 33 1/3% of issued and outstanding stock (effective 2024-11-06).

Change: bylaw amendment
Effective: 2024-11-06

Exact text from the filing

On November 6, 2024, the Company adopted Amendment No. 1 to Bylaws (“Bylaws”) with the approval of the Company’s board of directors. The Bylaws were amended to reduce the quorum requirement at any meeting of the Company’s stockholders to thirty-three and one-third percent (33 1/3%) of the stock issued and outstanding and entitled to vote at such meeting.

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13 governance changes filed in the last 30 days. Browse all governance changes →

KUSTOM ENTERTAINMENT, INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-044172

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