• Fermi urged shareholders not to support former CEO Toby Neugebauer’s proxy and consent solicitations tied to special meetings scheduled for May 29, 2026 and on or about June 30, 2026.
• Board said Neugebauer’s May 29 special meeting request was invalid and had been rescinded, framing both efforts as an attempt to expand board seats, install his nominees, seize control, then push a quick sale.
• Company said an immediate sale at current trading levels could undervalue business, citing investor and counterparty backing for its “Fermi 2.0” plan and Project Matador.
• Fermi highlighted charter provisions that cap new share accumulation at 2.5% and restrict Neugebauer-related purchases, citing REIT protections that could dilute his stake via a redemption mechanism.
• Board linked Neugebauer’s removal and for-cause termination to alleged policy and employment-agreement breaches, citing more than 80% stock decline during his tenure.

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 PR Newswire (Ref. ID: 202605052104PR_NEWS_USPR_____NY52374) on May 06, 2026, and is solely responsible for the information contained therein.