Good afternoon, and welcome to the 2026 special meeting of stockholders of Laird Superfood. I am Anya Hamill, Chief Financial Officer of the company, and I will act as secretary of this meeting. Today's meeting is being conducted virtually via live webcast. Stockholders may submit questions through the chat function on the meeting platform in accordance with the rules of conduct for the special meeting, which are also available on the meeting webpage. I would now like to introduce Jason Vieth, our Chief Executive Officer, who will act as the chairman of today's meeting.
Thank you, Anya, and thank you to everyone joining us today. It is now 1:01 P.M. Mountain Daylight Time, and I officially call this special meeting of stockholders to order. Before we move into the formal business of the meeting, I would like to briefly speak about the strategic importance of the transactions you are being asked to consider today. Over the past several years, Laird Superfood has built a strong foundation in premium functional foods, a category driven by health-focused consumers seeking clean, high-quality nutrition. The proposed acquisition of Navitas LLC and Global Superfoods Corp, which is referred to as the Navitas Acquisition, together with a proposed investment from Nexus Capital Management LP, which is referred to as the Nexus Investment, represents a transformational step forward for our company.
As described in the proxy statement that we filed with the Securities and Exchange Commission on February 9, 2026, we believe these transactions have the potential to provide meaningful scale and expanded product portfolio and operational synergies while strengthening our position within the premium superfood and wellness market. Navitas brings a reputation as a pioneer in organic superfoods, and we believe that combining our platforms will position Laird Superfood to accelerate growth and reach new customers while building a broader portfolio of functional products aligned with our mission. Equally important, the Nexus investment will provide us with strategic capital and long-term partnership support, allowing us to execute the Navitas acquisition while maintaining flexibility to pursue future strategic opportunities. The board of directors carefully evaluated these transactions and unanimously determined that these transactions are in the best interests of our stockholders.
For more information about the Navitas Acquisition and the Nexus Investment and the board's rationale for approving the transactions, please see the proxy statement and supplement to the proxy statement. Today's vote is an important milestone in advancing that vision. I will now turn it back to Anya to proceed with the formal business of the meeting.
Thank you, Jason. The board of directors fixed 5:00 P.M. Mountain Time on February fourth, 2026 as the record date for determining stockholders entitled to vote at this meeting. An affidavit has been delivered attesting to the fact that the notice of the meeting and the definitive proxy statement were mailed on or about February ninth, 2026 to all stockholders of record as of the record date and will be incorporated into the minutes of this meeting. The stockholders' list shows that as of the record date, there were 10,703,979 shares of common stock outstanding and entitled to vote at this meeting. The company has appointed Anthony Corridio to act as Inspector of Election of this meeting, and he has been instructed to receive, examine, and tabulate the ballots and proxies and to report on the vote and by ballot.
Anthony Corridio is with us today and has taken the oath of Inspector of Election. We're informed by the Inspector of Election that the holders of a majority in voting power of the capital stock of the company issued and outstanding and entitled to vote are represented in person or by proxy at this meeting. Therefore, I find that a quorum is present for purposes of transacting business at this meeting. Now I will present the matters to be voted upon. Please note that we will give stockholders an opportunity to comment on the proposals themselves after all proposals have been presented. Proposal One, the Stock Issuance Proposal.
To approve for purposes of complying with Section 712 and 713 of the NYSE American LLC Listed Company Guide, the issuance to Nexus of up to 110,000 shares of a newly created series of preferred stock, the Series A Preferred Stock of the company in the private placement and the issuance of the underlying shares of the company's common stock, the proceeds of which will be used for the Navitas Acquisition. Proposal two, the compensation proposal. To approve on a non-binding advisory basis certain compensation that may be paid to or become payable to the company's named executive officers in connection with Navitas Acquisition and Nexus Investment. Proposal three, the Adjournment Proposal.
To consider and vote upon a proposal to adjourn the special meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if there are insufficient votes for or otherwise in connection with the approval of the Stock Issuance Proposal. Based on preliminary voting results, the company believes that the required number of shares of the company's common stock will be voted in favor of the Stock Issuance Proposal and that it will not be necessary to act on the Adjournment Proposal to solicit additional proxies. Each of the proposals is described in greater detail and more information is available in the proxy statement. The Board of Directors has recommended that you vote for each of the proposals. If any stockholder would like to make a comment regarding any of the proposals, please submit your comments through the web portal.
Okay, it is now 1:08 P.M. Mountain Daylight Time on March eleventh, 2026, and the polls are now open. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. Please deliver your ballot online at this time so that it will be counted by our Inspector of Election. Now that everyone has had the opportunity to vote, I declare the polls for the special meeting closed as of 1:10 Mountain Daylight Time.
Okay, the ballots have been tabulated, and I will now report the preliminary results of the voting. More than a majority of the votes cast at the special meeting in person or by proxy have been voted for the Stock Issuance Proposal. I hereby declare that the Stock Issuance Proposal has been approved by our stockholders. More than a majority of the votes cast at the special meeting in person or by proxy have been voted for the compensation proposal. I hereby declare that the compensation proposal has been approved by our stockholders. We will report the final voting results in the current report on Form 8-K within four business days of today's date.
Thank you, Anya. Thank you to our stockholders for your continued support. There being no further business to come before the meeting, this special meeting of shareholders of Laird Superfood, Inc. is now adjourned. Thank you for joining us, and have a great day. The meeting has now concluded. Thank you for joining, and have a pleasant day.