Fermi urges investors revoke Neugebauer bid for special meeting to expand board, seat seven nominees

Fermi Inc.

Fermi Inc.

FRMI

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  • Fermi launched a consent revocation campaign to block ex-CEO Toby R. Neugebauer’s bid to force a shareholder special meeting.
  • Neugebauer seeks agent designations to reach the charter’s 50% threshold to call the meeting, targeting control via board expansion.
  • Company’s independent board committee unanimously urged holders not to sign Neugebauer’s green card, or to revoke it using a white card.
  • Neugebauer group reported 146,516,035 shares, about 22.7%, as of April 26; company cited about 40.3% including family and allies.
  • Company estimated about 318,787,120 shares were needed to trigger a special meeting based on 637,574,239 shares outstanding as of April 26.


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