Fermi Founder Parties File Formal Proposal for Independent Strategic Review of Extraordinary Transactions, Press Board on Restoring Texas-Style Governance Ahead of October 30 Annual Meeting

Toby Neugebauer urged the board to act quickly to restore stakeholder confidence following a sharp share-price decline. Shares are down roughly 20% since the board said it met its 90-day objectives on August 13, 35% since it removed the dual-path strategic-process option on July 2, and about 20% since the subsequently truncated referenced board event. The report signals escalating shareholder dissatisfaction with board decisions and strategic-process execution.