Fermi Wins 9.3% Caddis Backing Against Former CEO's Board Seizure Bid
Updated
Updated · Bloomberg · May 11
Fermi Wins 9.3% Caddis Backing Against Former CEO's Board Seizure Bid
15 articles · Updated · Bloomberg · May 11
Caddis Capital, Fermi's second-largest shareholder with a 9.3% stake, backed the company in its fight with former CEO Toby Neugebauer.
The investor said it supports Neugebauer's ouster in April and opposes his effort to call a special meeting, install new directors and put the data-center developer up for sale.
That endorsement strengthens Fermi's position in a boardroom battle centered on whether Neugebauer can regain influence over the company's strategic direction.
After an 84% stock crash, should Fermi's board sell its massive AI project or pursue its own unproven turnaround plan?
When a founder owns 40% of a company, who legally has the final say on its future: the board or the shareholders?
Is a private nuclear-powered AI campus the future of tech, or is Project Matador a failure of monumental proportions?