Fermi shareholders to vote on company future amid CEO-led push for strategic sale or merger.

Toby Neugebauer, Fermi's Co-Founder and largest shareholder, has called a Special Meeting on May 29, 2026, giving shareholders their first chance since the IPO to vote on the company's future. Neugebauer criticizes the current board for not pursuing a thorough strategic process and supports exploring all options, including mergers and acquisitions, to maximize shareholder value. He has nominated a new slate of directors and emphasizes the value of Project Matador, a major infrastructure asset developed under his leadership. The meeting will be pivotal for shareholders to influence Fermi's direction amid ongoing strategic discussions and potential transactions.