I'm shocked. I always thought that Matt held the majority of the voting shares, and that the board of directors was mostly there as a rubber stamp.
A lot of this is pretty typical, but what's interesting is what happens next. He could just remove members of the board with his 80%+ control, and build a board that backs him. I assume they have investor agreements that prevent that.
Since when was Automatic a public listed company?
https://www.dandodiary.com/2023/10/articles/securities-enfor...