On June 17, 2025, XCel Brands, Inc. held a Special Meeting where stockholders approved two key proposals: a warrant exercise allowing stock issuance exceeding 19.99% and a reverse stock split ranging from 1-for-2 to 1-for-5. Majority of shareholders voted in favor, with 1,020,922 votes for the warrant exercise and 1,613,691 votes for the reverse split.