NasdaqGS:FRMISpecialized REITs
Fermi (FRMI) Is Up 24.5% After Governance Showdown With Activist Founder Intensifies - Has The Bull Case Changed?
In mid-May 2026, Fermi Inc. reported a US$188.69 million first-quarter net loss while its board tightened bylaws, raising the shareholder approval threshold to 70% for altering key governance provisions, amid an escalating dispute with ousted co-founder and major shareholder Toby Neugebauer over control and the direction of Project Matador.
This clash between an activist founder pushing for a potential sale or partnership and a board reinforcing its control highlights a governance battle...