AUSTIN, Texas–(BUSINESS WIRE)–Ionic Digital Inc. (“Ionic” or the “Company”), a digital infrastructure and cryptocurrency mining company, today announced that it intends to adjourn, without conducting any business, the annual meeting of stockholders (the “Annual Meeting”) scheduled to be held on March 17, 2025, at 9:00 a.m. (prevailing Eastern Time). The Company’s Board of Directors (the “Board”) made this determination following discussions between the Company and certain stockholders (the “Plaintiff Stockholders”) in litigation pending before the Delaware Court of Chancery (the “Court”) and in light of the timeline set by the Court for that litigation.
More specifically, the Company is a defendant in litigation commenced by the Plaintiff Stockholders pending before the Court where the Plaintiff Stockholders alleged: (i) the size of the board of directors should be held by the Court to consist of six directors, rather than the current five di
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