Allied Gaming & Entertainment Stockholders Back Board’s Stance on Shareholder Rights Plan
NEW YORK — Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) announced today that its stockholders have overwhelmingly approved a proposal related to the company’s shareholder rights plan, signaling strong support for the board’s actions in a recent special meeting. The vote, held on January 30, 2026, focused on a non-binding advisory resolution concerning the board’s preliminary determination that Knighted Pastures LLC and its associates had triggered the company’s Rights Agreement.
The core of the shareholder vote centered on whether Knighted Pastures LLC, alongside Naomi Choi, Yiu-Ting So, and others, had effectively formed a “group” that constituted an “Acquiring Person” under the existing Rights Agreement dated February 9, 2024. The board’s preliminary finding was that this action triggered the agreement’s provisions and was not an inadvertent occurrence.
The results showed a decisive victory for the board’s position, with 19,310,346 shares voting in favor of the proposal, versus 1,882,689 shares against it. Abstentions accounted for 24,460 shares. While the vote is advisory and thus not legally binding on the Board of Directors, it offers significant insight into shareholder sentiment regarding the board’s handling of potential takeover scenarios and its interpretation of the company’s governance structures.
This shareholder backing is particularly relevant in the context of corporate defense strategies. Shareholder rights plans, often colloquially referred to as “poison pills,” are designed to deter hostile takeovers by making an acquisition prohibitively expensive or complex. They typically work by granting existing shareholders the right to purchase additional shares at a discount, thereby diluting the stake of any potential acquirer who crosses a specified ownership threshold without board approval. The approval of this proposal suggests that Allied’s shareholders are aligned with the board’s objective of protecting the company from unsolicited acquisition attempts and maintaining its strategic direction.
Allied Gaming & Entertainment reiterated its commitment to robust corporate governance and to acting in the best interests of all its stockholders. The company indicated that the Board will continue to assess its actions in line with its fiduciary duties and relevant legal frameworks. Further details on the special meeting and its outcomes are documented in the company’s Form 8-K filing with the U.S. Securities and Exchange Commission.
**About Allied Gaming & Entertainment Inc.**
Allied Gaming & Entertainment Inc. is a global experiential entertainment company dedicated to developing and delivering premier live experiences, content, and interactive services across the gaming, esports, and broader entertainment sectors. The company manages a diverse portfolio of assets and brands aimed at fostering connections among fans, players, and communities worldwide.
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