• Fermi launched revocation campaign to block former CEO Toby R. Neugebauer from calling shareholder-requested special meeting aimed at expanding board and installing Neugebauer-backed majority.
• Independent committee urged holders not to sign Neugebauer group green agent designation card, or to revoke any prior designation by returning company’s white revocation card before any special meeting date.
• Charter requires valid requests from holders of at least 50% of outstanding common stock; as of April 26, 2026, that threshold equaled about 318,787,120 shares out of 637,574,239 outstanding.
• Neugebauer group disclosed 146,516,035 shares as of May 5, 2026, leaving it short of threshold without additional support.
• Company framed solicitation as bid to force near-term sale; board cited Neugebauer’s April 17, 2026 removal as CEO, April 30, 2026 termination for cause, and post-departure stock gains including 22% jump following May 14, 2026 earnings call.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Fermi Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-057963), on May 15, 2026, and is solely responsible for the information contained therein.