‘Never Incorporate Your Company in the State of Delaware’: Musk Moves Neuralink to Nevada
Shortly after a Delaware judge voided Tesla (Nasdaq: TSLA) CEO Elon Musk’s $55 billion compensation package, which significantly eroded his net worth, Musk has decided that he is done with Delaware.
On Thursday last week, Musk completed the reincorporation of his brain implant company, Neuralink Corp. in Nevada. Bloomberg confirms that a notice was sent to shareholders letting them know that their outstanding shares in the Delaware corporation would be incorporated into outstanding shares in the Nevada corporation.
Flashback: (Nov 23, 2023) Neuralink Raises $323 Million As Firm Faces Congress Scrutiny
After years of regulatory issues, Neuralink achieved a significant milestone in late January when Musk announced that the first human patient had received a brain implant from Neuralink. Musk said that the patient is “recovering well,” and that initial results are promising.
No other details have been released since.
Information for this story was found via Bloomberg, the Associated Press and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
