Fermi founder Neugebauer urges vote for new directors, strategic review ahead of May 29 meeting

Fermi Inc.

Fermi Inc.

FRMI

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  • Activist push set for May 29 special shareholder meeting, called by co-founder Toby Neugebauer, seeking to force a strategic review and maximize value after board rejected a potential sale or merger.
  • Neugebauer plans to run a slate of five director nominees, positioning vote as first chance since IPO for shareholders to weigh in on company direction.
  • Neugebauer, family, and executives who departed on or after April 17 control about 40% of outstanding shares, raising stakes for board contest.
  • Campaign backs a dual-track process that includes M&A, arguing Project Matador’s scale and capital needs favor a partner with low cost of capital and proven construction capability.


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