Fermi rejects former CEO Neugebauer's invalid special meeting requests; cites 80% stock decline

Fermi Inc.

Board terminated Toby Neugebauer for cause after month-long transition negotiations failed.
Stock price declined over 80% under Neugebauer's leadership, per the filing.
First special meeting request for May 29, 2026 rescinded; second for June 30, 2026 deemed invalid.
Charter provisions can redeem Neugebauer's shares and cap any shareholder at 2.5% to protect REIT status.
Board believes immediate sale at current levels is premature and below intrinsic value.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.