One of the shareholders of Empery Digital (EMPD), a company traded on Nasdaq, is demanding that the company sell all of its Bitcoin holdings.
Accordingly, one of the major shareholders of Empery Digital, a Bitcoin treasury company formerly known as Volcon and traded on Nasdaq, is demanding that the firm sell all of its BTC assets.
Tice P. Brown, who owns 9% of Empery, expressed this request in a letter to the company’s board of directors.
Brown accuses management of offering to repurchase 100% of his shares at mNAV and signing a hold agreement which he rejected. He claims this action constitutes misuse of shareholder funds and violates the principle of undervalued share buybacks, alleging it was intended to secure Lane’s permanent position.
Brown also demanded the sale of all Bitcoins, as well as the CEO’s resignation and a complete overhaul of the board of directors.
Brown demands the immediate resignation of the CEO, a complete replacement of the board of directors, the sale of all BTC held by the company, and the return of the proceeds to shareholders.
Empery Digital currently holds 4,081 BTC, placing its portfolio among the top 25 publicly traded Bitcoin treasuries.
*This is not investment advice.
