Arizona Tribune - Dream Chasers Demands Carver Board Call an Urgent Special Meeting of Shareholders to Vote on Nasdaq Delisting

NEW YORK CITY, NY / ACCESS Newswire / November 21, 2025 / The listing of a company's stock is a critical component for any shareholder to invest in a company, and for a Board to seek to take away that fundamental component without a shareholder vote cannot be in shareholders' best interest. The only explanation can be a self-serving attempt to entrench management, reduce transparency to shareholders and reduce exposure to regulatory oversight.

No one should take away a shareholder's right to vote on such a critical issue -especially a chronically underperforming board like Carver's who has no mandate based on the fact that 70% of retail shareholders (the Bank's biggest ownership block) voted against the Board at last year's annual meeting and a Board who's self-serving delisting announcement has cost shareholders close to $10m in stock market losses.

The Board has no skin in the game

Members of the Board together own less than 2% of shares - yet are attempting to make a unilateral decisions for 98% of the majority on such a crucial matter for the Company and shareholders. The Board has no skin in the game. Dream Chasers is once again working to gain Board representation for the retail shareholder base (the banks biggest voting block )

The Board's self-serving delisting announcement from the NASDAQ is the biggest material change that has happened in the last 10 years - perhaps in the Bank's 75 year existence.

How can the Board DESTROY half of Carver's market cap and DESTROY shareholder value without a shareholder vote especially since it is shareholders money at stake?

A disturbing pattern of secrecy and continued lack of transparency

This delisting action is a continuation of this Board's self-serving attempt at entrenchment and their attempt to disenfranchise shareholders rights. Their Board refreshment plan will take too long, and it is just another way for the Board and management to stack the Board with directors who have no material stake in Carver and do not represent Carver's core shareholder base which are retail investors.

Are shareholders paying Don Felix to destroy value?

Don Felix is making 700K a year as the Bank loses millions and is likely to pocket as much as $3.4m if the bank was sold, yet it is under his watch that the Bank is back under OCC supervision.

Greg Lewis, CEO of Dream Chasers, said- "I have always said that the good news for Carver is the quicker this Board is replaced, new Board members brought in and fresh capital infused, the sky is the limit for Carver. Don't get hoodwinked by this Board's nonsense talk about an OTC move providing the company with greater flexibility to pursue initiatives that support creating an enduring brand, long-term growth, and enhanced capital. All nice sounding words, but of course, most shareholder are not idiots and know it is this very move that will inhibit Carver's turn around."

DREAM CHASERS ACTIVISM ON BEHALF OF SHAREHOLDERS HAS BROUGHT POSITIVE RESULTS

Through its relentless activism, Dream Chasers has been able to slowly effect positive changes that has benefited the Company, shareholders and the stock price over the last year or so. Instead of building on that momentum towards a possible capital raise at an attractive price, the Board chose shareholder value destruction with this reckless, self-serving decision. No shareholder should stand for this.

Dream Chasers on behalf of all shareholders demands that the Board call a special meeting of shareholders and give all shareholders a chance to vote before any further steps are taking to delist the Company's shares. Dream Chasers urges ALL shareholders to contact the Board and Don Felix immediately and prevent this continuation of shareholder deception.

Carver's best days could be ahead, but not on the path this Board is dangerously veering down.

We appreciate, in advance, the support of retail and all shareholders, as we strive to make Carver a winner again.

For more inquiry
[email protected]

About Dream Chasers Capital Group LLC
www.dreamchaserscapitalgroup.com

Important Information and Disclaimer

Dream Chasers is, directly or indirectly, a beneficial owner of shares in Carver Bancorp Inc. We are not currently engaged in any solicitation of proxies from stockholders of Carver.

Except as otherwise set forth herein, the views expressed reflect Dream Chaser's opinions and are based on publicly available information with respect to Carver. We recognize that there may be confidential information in the possession of Carver that could lead it or others to disagree with our conclusions. Dream Chasers reserves the right to change any of its opinions expressed herein at any time as it deems appropriate and disclaims any obligation to notify the market or any other party of any such change, except as required by law. We disclaim any obligation to update the information or opinions contained herein.

The information herein is being provided merely as information and is not intended to be, nor should it be construed as, an offer to sell or a solicitation of an offer to buy any security.

Some of the information herein may contain forward-looking statements. All statements contained herein that are not clearly historical in nature or that depend on future events are forward-looking. The words "anticipate," "believe," "expect," "potential," "could," "opportunity," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. There can be no assurance that any forward-looking statements will prove to be accurate and therefore actual results could differ materially from those set forth in, contemplated by, or underlying these forward-looking statements. In light of the significant uncertainties inherent in forward-looking statements, the inclusion of such information should not be regarded as a representation as to future results or that the objectives and strategic initiatives expressed or implied by such forward-looking statements will be achieved.

SOURCE: Dream Chasers Capital Group

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W.Stewart--AT