Fermi Inc

FRMI

Market cap $3.32B

Fermi Rejects Mr. Neugebauer's Self-Interested Attempt to Call Special Shareholder Meeting as Invalid and Urges Shareholders Not to Respond to His Consent Solicitation Company Has Received Significant Support for Fermi 2.0 from Shareholders Who Firmly Reject Mr.

DALLAS, May 5, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (NASDAQ: FRMI) (LSE: FRMI), a pioneering developer of next-generation private electric grids for artificial intelligence, today announced that Larry Kellerman has been appointed to the Board of Directors as an independent director. Marius Haas, Chairman of the Board of Fermi, said: "The Board looks forward to welcoming Larry as a new director as we continue to oversee execution of Fermi's strategic priorities.

Recently ousted CEO Toby Neugebauer is calling for a shareholder vote at Fermi, though its unclear if the meeting will take place.

Special Meeting Will Provide Shareholders First Opportunity Since IPO to Vote on Future of Fermi Fermi Has Thus Far Not Run a Comprehensive and Credible Strategic Process to Reach the Full Range of Potential Interested Parties in Pursuit of Value-Maximizing Transactions Under Neugebauer's Leadership, the Fermi Team Created a World-Class Company DALLAS, May 5, 2026 /PRNewswire/ -- Toby Neugebauer, Co-Founder and largest shareholder of Fermi Inc. (d/b/a Fermi America) (Nasdaq: FRMI) ("Fermi" or the "Company"), today announced that he called a Special Meeting of Shareholders to be held on May 29, 2026 (the "Special Meeting") in his capacity as Chief Executive Officer of Fermi on April 17, 2026, and has filed preliminary proxy materials in connection with the Special Meeting. The Special Meeting will provide Fermi shareholders with their first opportunity since the initial public offering to express their views to the Board and determine the future of the Company.

DALLAS, May 1, 2026 /PRNewswire/ -- Toby Neugebauer, co-founder and largest shareholder of Fermi America (NASDAQ & LSE: FRMI), today announced that he has nominated Larry Kellerman to join the Fermi Board of Directors. Kellerman, who serves as Chief Power Officer at Fermi America, is the architect of the Company's 17-gigawatt powered data center campus in Amarillo, Texas — the largest private energy grid in America.

Masson Brings Significant Public Company CFO and Board Director Experience to Drive Fermi's Continued Evolution and Scalability DALLAS, April 30, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced the appointment of Rob L. Masson II as Interim Chief Financial Officer (CFO).

NEW YORK, April 29, 2026 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Fermi Inc. (NASDAQ: FRMI) breached their fiduciary duties to shareholders.  According to a federal securities lawsuit, Insiders at Fermi caused the company to misrepresent or fail to disclose that (1) the Company overstated its tenant demand for its Project Matador campus; (2) the extent to which Project Matador would rely on a single tenant's funding commitment to finance the construction of Project Matador; (3) there was a significant risk that that tenant would terminate its funding commitment.

Tony Neugebauer, ousted on Friday, is the company's co-founder and a big shareholder. Fermi has batted down his call for a sale.

Fermi on ​Tuesday ‌rejected former ​CEO ​Toby Neugebauer's call for ⁠an ​immediate ​sale of the ​U.S. ​power startup, saying ‌such ⁠a move was "not ​in ​the ⁠best ​interest" ​of ⁠the company.

DALLAS, April 21, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), subsequent to the Company's announcement of Fermi 2.0 on April 20, 2026, has received significant and positive feedback from multiple potential tenants, the Company's landlord, the Texas Tech University System, as well as suppliers, vendors, contractors, financing sources, and other partners. The Company is gratified by that feedback and is pursuing Fermi 2.0's business and leadership objectives with all deliberate speed.