A 9.8% shareholder has doubled down on calls for Empery Digital to sell its BTC holdings, return capital to investors and remove its CEO and board.
A major shareholder in Empery Digital has called on the company to abandon its Bitcoin-centric strategy, sell its digital asset holdings and return the proceeds to investors, along with demanding the resignation of the CEO and the entire board of directors.
In a letter to the company’s board on Monday, Tice P. Brown, who is the beneficial owner of roughly 9.8% of Empery Digital’s outstanding shares, accused management of entrenching themselves at shareholders’ expense.
Brown said that Empery Digital’s leadership privately approached him on Feb. 18 with an offer to repurchase all of his shares at a price equal to 100% of their market net asset value (mNAV), which he called “a large premium to prevailing market valuations.” He declined the proposal, saying it was designed to preserve management’s positions rather than return capital to shareholders.
