NEXGEL, Inc. (NXGL) — Reincorporation detail

Announcement

2026-05-29

First SEC disclosure

Meeting / Vote

2026-07-10

SCHEDULED

Effective

—

Legal effective date

Market Cap

$5M

At announcement

Why this firm matters

Vote scheduled for 2026-07-10; results pending.

Vote outcome — reincorporation proposal

Approval standard: Affirmative vote of the holders of a majority of the outstanding shares of common stock entitled to vote at the Annual Meeting (DGCL §266). Meeting type: ANNUAL_MEETING.

Vote totals not yet pulled. Awaiting EDGAR Item 5.07.

Event-study abnormal returns — announcement window

Returns around the announcement date.

No announcement-window CARs available for this firm yet.

Event-study abnormal returns — vote window

Returns around the shareholder-vote (or written-consent) date.

Vote window CARs not yet computed (vote on 2026-07-10).

Long-run abnormal returns & pooled estimates

Buy-and-hold abnormal returns (1 / 3 / 6 / 12 months) and calendar-time portfolio alpha (CTE) post-effective.

No long-run / pooled estimates available for this firm yet — run phase5z_compute_longrun.py on Windows to populate (requires effective date ≥ 3 months ago).

Cohort-level robustness battery

Heckman selection-corrected ATE · Romano-Wolf step-down + BH FDR · pooled BHAR. This firm's reading is shown in context of the full cohort.

Heckman two-step selection correction (controlled-vs-widely-held)

Cohort ATE = +0.94% (SE = 7.06%, n = 2395) after correcting for controller-status selection (inverse Mills ratio = -0.062).

Romano-Wolf step-down + Benjamini-Hochberg FDR (n = 47)

This firm: per-firm adjusted p-values pending. Multiple-hypothesis correction is computed across the full cohort to control family-wise error rate at alpha = 0.05.

Pooled cohort BHAR (mover firms only)

BHAR_63d: mean = -5.60% (SE = 22.11%, n = 3, p = 0.499) · BHAR_126d: mean = +17.33% (SE = 41.17%, n = 3, p = 0.774)

See Cohort event study → for the full battery and forest plots.

Nevada Statutory Disclosures

Nevada Revised Statutes (NRS) governance provisions relevant to Delaware→Nevada redomestications. Five sections summarized; each links to the Nevada Legislature’s authoritative NRS text. Counterpart to the Texas § 21.552 / § 21.373 panel for TX-destination firms.

NRS § 78.138 — Director / officer fiduciary duty

Codifies the business-judgment rule and limits monetary liability of directors and officers absent breach of loyalty, intentional misconduct, fraud, or knowing violation of law. Stronger statutory shield than DGCL § 102(b)(7) on its face; charter opt-out / carve-out is firm-specific.

PENDING VERIFICATION

Adoption with carve-out by NEXGEL, Inc.: primary-source verification pending; canonical record not yet populated.

NRS § 78.7502 — Indemnification of directors / officers

Broad permissive indemnification statute; covers expenses, judgments, fines, and amounts paid in settlement for any action by reason of service as director or officer, subject to good-faith standard. Charter / bylaw uptake is firm-specific.

PENDING VERIFICATION

NEXGEL, Inc. indemnification provisions pending charter / bylaw extraction.

NRS §§ 78.378–3793 — Acquisition of controlling interest

Nevada's control-share acquisition statute (anti-takeover): voting rights of shares acquired in a “control-share acquisition” are extinguished absent disinterested-shareholder approval. Opt-out is by charter or bylaw amendment; default is opt-in for Nevada corporations meeting the statute's coverage thresholds.

PENDING VERIFICATION

NEXGEL, Inc. opt-in / opt-out status pending charter or bylaw verification.

NRS §§ 78.411–444 — Combinations with interested stockholders

Nevada's business-combination statute (anti-takeover): for two years post-acquisition, a Nevada corporation may not engage in a “combination” with a 10%+ interested stockholder unless the board pre-approved the transaction. Charter opt-out available.

PENDING VERIFICATION

NEXGEL, Inc. opt-in / opt-out status pending charter verification.

NRS § 92A.135 — Conversion mechanism (DGCL § 266 analog)

Authorizes conversion of a foreign business entity into a Nevada domestic entity by filing articles of conversion. The Nevada analog to DGCL § 266 (Delaware) and TBOC §§ 10.101–108 (Texas). Where used, the firm's redomestication is a true legal-entity conversion rather than a reverse-triangular merger.

PENDING VERIFICATION

Mechanism (§ 92A.135 conversion vs. merger-with-NV-sub) pending primary-source verification.

Primary-source pending. Where badges read “PENDING VERIFICATION,” the firm-specific adoption posture (e.g., charter carve-outs to NRS § 78.138, opt-outs from NRS §§ 78.378–3793 or 78.411–444) has not yet been extracted from the firm’s amended-and-restated articles or proxy materials. The presence of a Nevada incorporation alone does not establish adoption of every provision; opt-outs are charter-level facts.

Source filings

Primary-source documents on SEC EDGAR plus IR / search links.

PRE 14A (Annual Meeting + DE→NV reincorporation) — https://www.sec.gov/Archives/edgar/data/1468929/000149315226026453/formpre14a.htm
EDGAR — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001468929&type=&dateb=&owner=include&count=40
PRE 14A · 0001493152-26-026453 — filing →
Note. PRE 14A 2026 Annual Meeting proxy — Proposal 3: DE→NV reincorporation by plan of conversion (DGCL §266); Annexes A/B/C = Plan of Conversion + Nevada Articles + Nevada Bylaws

Classification & audit trail

Bucket

Panel eligibility

PANEL_B_dexit_mover

Audit status

v6-rev120_2026-06-02: NEW ENTRY — NexGel DE→NV plan of conversion; Edwards 2026-06-01 coverage gap (#36)

Source confidence

VERIFIED_PRE_14A

Transaction status

PENDING

Audit notes

[2026-06-02] Added per Edwards-vs-SMU CGI coverage check. EDGAR-verified: CIK 0001468929 (NEXGEL, INC.; tickers NXGL + NXGLW) is the public parent (not the NexGelRx subsidiary CIK 0002104736 returned by first ticker-search). PRE 14A acc 0001493152-26-026453 filed 2026-05-29 (period 2026-05-29) contains Proposal 3: 'APPROVAL OF THE REINCORPORATION OF THE COMPANY FROM THE STATE OF DELAWARE TO THE STATE OF NEVADA' via plan of conversion under DGCL §266, with Annexes A (Plan of Conversion) + B (Nevada Articles) + C (Nevada Bylaws). 2026 Annual Meeting set for July 10, 2026 at 10:00 a.m. Eastern Time at corporate HQ (2150 Cabot Boulevard West, Suite B, Langhorne, PA 19047). Record date: close of business June 3, 2026. Approval standard: majority of outstanding shares of common stock entitled to vote (DGCL §266). No appraisal/dissenters' rights. State of Incorp. still DE per all 64 EDGAR filings 2025-01 through 2026-05. DEF 14A still pending; PRE-to-DEF gap is typically 7–21 days. Status SCHEDULED until vote held. Will flip to APPROVED / REJECTED post Item 5.07 8-K.
RESTORED_rev132-ctnt-nxgl-restore-and-lockdown-2026-06-04: silently dropped between rev131-tboc-count-reconcile (2026-06-03 15:03 UTC) and rev131-phase-a (2026-06-04 22:46 UTC) by my own sync_phase_a_to_master script. Restored from snapshot data.PRE-PHASE-A-SYNC-1780613785-8fa4e891.json after live-EDGAR primary-source re-verification.