Part 8/13:
One of the key procedural hurdles is establishing a quorum—it’s necessary to reach a specific threshold of votes to validate certain decisions. For the Texas redomestication, a majority of the float (outstanding shares that are eligible to vote) must vote "yes," with non-participants effectively counted as "no." In Tesla’s case, approximately 1.58 billion shares need to vote "yes" out of around 3.89 billion shares outstanding.
The challenge lies in getting enough shareholders to participate. If a significant portion abstains or cannot vote due to logistical issues, the quorum may not be achieved, potentially leading to the vote being adjourned or invalidated. This happened historically with other shareholder votes, where high abstention ultimately prevented a formal decision.