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Power REIT adjourns annual meeting to Nov 10 after failing to secure votes for Proposal 3
PWPower REIT
Power REIT convened its 2026 Annual Meeting of Shareholders on October 27, 2026, but did not receive sufficient votes to approve Proposal 3. Consequently, the chairman adjourned the meeting to November 10, 2026, at 10:30 a.m. Eastern time to allow additional time for shareholders to vote. Approval of Proposal 3 requires the affirmative vote of a majority of all Common Shares outstanding as of the September 11, 2026 record date; non-votes count against approval. The proposal is critical for enabling the Board to resolve an overhang related to the Series A Preferred Stock without requiring a further common shareholder vote. Failure to address this capital structure issue could lead to delisting from the NYSE American and deregistration under the Exchange Act, which would reduce liquidity and trigger conversion rights for preferred holders. Institutional Shareholder Services (ISS) has recommended voting in favor of Proposal 3. Power REIT is a specialized real-estate investment trust focused on sustainable real estate assets including greenhouses, solar farm land, railroads, and single-family rentals.