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Fermi Founder Parties Press Board for Independent Review of Strategic Options

Fermi Founder Parties Press Board for Independent Review of Strategic Options

MT newswireMT newswire2026/09/11 13:24
09:24 AM EDT, 09/11/2026 (MT Newswires) -- Fermi (FRMI) founder parties led by largest shareholder Toby Neugebauer have submitted a proposal seeking an independent investment-bank review of the company's strategic transaction options, the founder parties said Friday. The proposal asks an independent, nationally recognized investment bank to assess the full range of extraordinary transactions, including a potential sale or majority recapitalization, without requiring Fermi to pursue any specific transaction, the founder parties said. Neugebauer also urged the board to seek shareholder votes on restoring lower voting thresholds for bylaw amendments and director elections and raising the REIT ownership limit to 9.8% from 2.5%, the founder parties said. The founder parties, which own about 22% of Fermi, said the initiatives aim to boost confidence and shareholder value ahead of the Oct. 30 annual meeting.
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