Greenway Technologies enters pilot-site term sheet with Renewable Elements, amends bylaws, notes OTCID market transition

GREENWAY TECHNOLOGIES, INC. & SUBSIDIARIES

Non-refundable $1.3M deposit from Renewable Elements for G-Reformer pilot site; definitive agreements pending.
Board adopted amended bylaws removing cumulative voting, eliminating shareholder written consent, changing director election standard.
Common stock transitioning from OTC Pink Current to OTCID Basic Market effective July 1, 2025; application approved.
Bylaws add new forum selection provisions, shareholder derivative claim threshold of 3% ownership.
Term sheet includes confidentiality, termination on 30 days' notice, governed by Texas law.

Key facts

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

GREENWAY TECHNOLOGIES, INC. & SUBSIDIARIES: Amended and restated bylaws adopted to update governance provisions, including special meetings, director elections, shareholder nomination procedures, forum selection, and other changes (effective 2025-05-22).

Change: bylaw amendment
Effective: 2025-05-22

Exact text from the filing

On May 22, 2025, the Board of Directors of the Company (the “ Board ”) adopted amended and restated bylaws of the Company (the “ Amended and Restated Bylaws ”) following the effectiveness of amendments to the Texas Business Organizations Code (“ TBOC ”) and in connection with the Board’s periodic review of recent developments involving corporate governance practices and the rules and regulations promulgated by the U.S. Securities and Exchange Commission (the “ SEC ”) under the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”).

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GREENWAY TECHNOLOGIES, INC. & SUBSIDIARIES filing history →

Source: SEC EDGAR

accession 0001641172-25-012340

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