The vote count (48.4%) is far below the majority-of-outstanding threshold, making approval of Proposal 3 unlikely without a dramatic surge in participation. Monitor the November 10 adjourned meeting: if Proposal 3 fails, delisting and deregistration risks become acute, and the activist group may escalate its campaign for a special preferred stock meeting to elect trustees.
Price Chart
Executive Summary
Power REIT filed additional definitive proxy soliciting materials (DEFA14A) announcing that its 2026 Annual Meeting was convened and adjourned to November 10, 2026 because insufficient votes had been received on Proposal 3. As of October 26, 2026, only 48.4% of outstanding common shares had voted, well short of the majority-of-outstanding-shares threshold needed for approval. The filing urges shareholders to vote FOR Proposal 3, which would allow the Series A Preferred Stock holders to approve future amendments to their contract rights without a further common shareholder vote, warning that failure could lead to delisting and deregistration.
Key Financial Metrics
Key Facts
- Annual meeting convened on October 27, 2026 and adjourned to November 10, 2026 due to insufficient votes on Proposal 3.
- As of October 26, 2026, only 48.4% of outstanding common shares had voted, below the majority-of-outstanding-shares threshold.
- Approval requires affirmative vote of a majority of all 367,120 outstanding common shares, not just shares voted.
- ISS recommended voting FOR Proposal 3.
- Board warns that failure to address Series A Preferred Stock overhang makes delisting from NYSE American and deregistration likely.
- Activist group Bradley & Daytona and Alexander Kachmar hold 12.0% of Series A Preferred Stock and have escalated a proxy fight.
- Power REIT reported a net loss of -$2.2 million in 2025.
- Market cap is $2M.
Financial Impact
Potential delisting and deregistration would end exchange trading of common shares, reduce liquidity, and trigger conversion rights of Series A Preferred Stock holders; company reported a net loss of -$2.2 million in 2025.
Risk Factors
- Proposal 3 may fail to achieve majority-of-outstanding vote, leading to delisting from NYSE American and deregistration.
- Delisting would trigger conversion rights of Series A Preferred Stock holders, potentially diluting common shareholders.
- Activist group continues to accumulate Series A Preferred shares and demand a special meeting to elect trustees.
- Company has a net loss of -$2.2 million and a market cap of only $2M, indicating financial distress.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001493152-26-048661 |
| Document: 0001493152-26-048661-index-headers.html | 0001493152-26-048661 |
| Document: 0001493152-26-048661-index.html | 0001493152-26-048661 |
| Document: 0001493152-26-048661.txt | 0001493152-26-048661 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 4d ago | SC 13D/A | $6.89 $6.72 | ▲ +2.47% | ▲ +0.69% | $6.72 (+2.47%) |
Oct 28, 2026 4d ago | 8-K | $6.89 $6.72 | ▲ +2.47% | ▲ +0.69% | $6.72 (+2.47%) |
Oct 27, 2026 5d ago | DEFA14A | $6.58 $6.88 | ▼ −4.56% | ▼ −4.21% | $6.72 (−2.13%) |
Oct 26, 2026 6d ago | DEF 14A | $6.81 $6.58 | ▲ +3.38% | ▲ +3.94% | $6.72 (+1.32%) |
Oct 7, 2026 25d ago | SC 13D/A | $6.96 $6.95 | ▲ +0.14% | ▲ +0.74% | $6.72 (+3.45%) |
Oct 6, 2026 26d ago | DEFA14A | $7.01 $7.10 | ▲ +1.28% | ▲ +1.52% | $6.72 (−4.14%) |
Sep 23, 2026 5w ago | DEF 14A | $6.86 $6.74 | ▲ +1.75% | ▲ +1.67% | $6.72 (+2.04%) |
US Market Status
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