Tony Vejseli, a stockholder of Ionic Digital Inc., continues to advocate for his fellow stockholders with the support of Figure Markets. As part of our ongoing journey to bring transparency and accountability to Ionic, Tony recently sent a letter to the U.S. Trustee raising serious concerns about the company’s operations since emerging from bankruptcy and its ongoing failure to register its common stock or become publicly listed—key objectives outlined in the bankruptcy plan.

Among his requests,  Mr. Vejseli urged the U.S. Trustee to provide a list of Celsius creditors to facilitate his outreach to stockholders in pursuit of significant board changes at Ionic. Although he has exercised his rights as a stockholder under Delaware law to request this information directly from Ionic, he has encountered persistent delays and resistance—actions that ultimately harm all Ionic stockholders.

Additionally, Mr. Vejseli shared with the U.S. Trustee a version of the presentation delivered to Ionic Digital and its board of directors during the October 28 meeting at the offices of White & Case LLP in New York.

This is the latest step in our shared journey to bring about the change Ionic needs. We urge all stockholders to support our efforts by filling out this form to pledge your backing for a special meeting to refresh board composition and drive meaningful change at Ionic.

We have issued a response to Ionic Digital Inc.’s (“Ionic” or the “Company”) recent FAQ published on November 1, which aimed to address shareholder inquiries. 

We acknowledge Ionic Digital’s attempt to clarify with shareholders through recent communication after a period of limited updates. However, we are concerned that certain details provided in their FAQ do not accurately reflect the current state of Ionic Digital’s governance, mining costs, and shareholder liquidity. 

Figure Markets, Tony Vejseli, and GXD Labs remain committed to enhancing transparency around Ionic Digital’s financial and operational metrics to safeguard shareholder interests. 

Please review our collective rebuttal to Ionic’s FAQ and consider supporting the proposed special meeting by completing the form to participate in the vote on potential board adjustments.

Ionic shareholders / Celsius creditors,

We are making progress toward our initiative to effectuate change at Ionic Digital. In order to call for a Special Meeting, we need some additional shareholder information and disclosures. 

Please take a few minutes to read our intentions and submit your information.

Ionic shareholders / Celsius creditors,

We believe that Ionic is not being run for the benefit of its shareholders. We are asking for shareholder support to force a board meeting to discuss the path forward for Ionic. To that end, I sent a letter to the two UCC members of the board requesting such and proposing our plan for the company, here. We also sent a demand letter that we discussed in this press release.

While we hope to be able to work with the board to address the condition and future of Ionic, we are not optimistic they will be receptive. To that end, we are collecting shareholder endorsement to force a special meeting of the board.

We need your support to make the board accountable to shareholders. Signing this form does not mean you support any specific plan – it’s the first step in a process that could have a range of outcomes, but whose goal is to get shareholders liquidity at maximum value as quickly as possible.

Mike CagneyCo-founder and CEO, Figure Markets