Fermi Inc. Common Stock

Flexible convertible structure with shareholder-friendly capped call minimizes dilution Proceeds strengthen liquidity in midst of customer and partner negotiations and preserve Fermi's speed-to-power advantage Attractive five-year cost of capital provides run room to advance multiple commercial tracks in parallel DALLAS, TX / ACCESS Newswire / July 15, 2026 / Fermi Inc. (Nasdaq:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), outlined today the strategic rationale for its recently closed and upsized offering of $431.25 million aggregate principal amount of 5.00% Convertible Senior Notes due 2031 (the "Notes"), which included the exercise in full of the initial purchasers' 13-day option to purchase up to an additional $56.25 million aggregate principal amount of Notes. The Notes are intended to strengthen Fermi's balance sheet, enhance liquidity, and support continued execution of Project Matador as the Company advances tenant, strategic partnership, and power-delivery milestones.

accessnewswire.com - 2026-07-15 08:30:00

Neugebauer Addresses $375mm Convertible Note Offering that Resulted in Former Fermi CFO Miles Everson's Resignation from Fermi Board; Reaffirms

gurufocus.com - 2026-07-13 14:00:00

As the former CFO of Fermi and the principal author of the Committee of Sponsoring Organizations Internal Control-Integrated Framework, Everson's departure

prnewswire.com - 2026-07-13 13:29:00

As the former CFO of Fermi and the principal author of the Committee of Sponsoring Organizations Internal Control—Integrated Framework, Everson's departure from Fermi's board is disheartening for all shareholders The Fermi Board and its lawyers continue abusing Texas' pro-business environment by acting as if they are accountable to no one Above all, Neugebauer's focus remains on Fermi's long-term success — the company he envisioned, founded, and built; recently published on Seeking Alpha where Project Matador was referred to as the 'most valuable asset in the AI race.' DALLAS, July 13, 2026 /PRNewswire/ -- Toby Neugebauer, co-founder and largest shareholder of Fermi Inc. (d/b/a Fermi America) (Nasdaq: FRMI) ("Fermi" or the "Company"), today released a statement regarding Fermi's recent $375mm convertible note offering which resulted in Miles Everson's resignation from the Company's Board.

prnewswire.com - 2026-07-13 13:16:00

Shares of Fermi America (NASDAQ:FRMI | FRMI Price Prediction) are down roughly 11.5% in Friday afternoon trading, changing hands near $6.48 after opening the session at $7.32.

247wallst.com - 2026-07-10 15:43:31

U.S. stock futures were mixed this morning, with the Dow futures gaining around 100 points on Friday.

benzinga.com - 2026-07-10 08:03:05

Fermi Inc (NASDAQ:FRMI, LSE:FRMI) announced a plan to raise $350 million through a private offering of convertible senior notes, with proceeds earmarked...

proactiveinvestors.com - 2026-07-10 03:43:00

Fermi Inc (NASDAQ:FRMI, LSE:FRMI) announced a plan to raise $350 million through a private offering of convertible senior notes, with proceeds earmarked partly for capped call transactions designed to limit potential dilution to shareholders. The company, which operates as Fermi America and is listed on Nasdaq and the London Stock Exchange, said the notes will mature on July 15, 2031, unless converted, redeemed or repurchased earlier.

proactiveinvestors.co.uk - 2026-07-10 03:32:34

DALLAS, TX / ACCESS Newswire / July 9, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company") today announced the upsized pricing of 5.00% convertible senior notes due 2031 (the "Notes") in an aggregate principal amount of $375 million (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The Company also granted to the initial purchasers of the Notes an option to purchase, for settlement within 13-day period from the date of initial issuance of the Notes, up to an additional $56.25 million aggregate principal amount of Notes.

accessnewswire.com - 2026-07-09 23:38:00

DALLAS, TX / ACCESS Newswire / July 9, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company") today announced its intention to offer, subject to market conditions and other factors, $350 million aggregate principal amount of convertible senior notes due 2031 (the "Notes") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In connection with the offering, the Company expects to grant to the initial purchasers of the Notes an option to purchase, for settlement within a 13-day period from the date of initial issuance of the Notes, up to an additional $52.5 million aggregate principal amount of Notes.

accessnewswire.com - 2026-07-09 16:20:00

Leading Proxy Advisory Firm ISS Recommended Shareholders Do Not Deliver Consent One Day Prior to Former CEO Suspending Campaign Fermi's Top Strategic Priorities to Drive Shareholder Value are On Track and Progressing DALLAS, July 7, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today issued the following statement after former CEO Toby Neugebauer suspended his proxy campaign to call a Special Meeting: Mr. Neugebauer's failed proxy campaign is over, and there will be no Special Meeting.

prnewswire.com - 2026-07-07 08:30:00

Neugebauer Suspends Current Proxy Campaign While Leading with About 70% of Votes Recorded, Following Judge's Inexplicable Last-minute Recusal T

gurufocus.com - 2026-07-03 14:00:00

Toby Neugebauer, the co-founder and largest shareholder of energy and data center ​development company Fermi , said on Friday he has ‌suspended his proxy campaign to call a special meeting after a Texas Business Court judge ​recused himself shortly before a scheduled ​hearing, disrupting the timetable for a ⁠strategic review.

reuters.com - 2026-07-03 13:49:13

More than 70% of votes cast to date have been in favor of calling a special meeting, underscoring shareholders' demand for a special meeting to determine Fermi's future After Fermi's top two law firms recently withdrew from the case, the Texas Business Court judge, who had stated he had no conflict at the outset of the trial, recused himself an hour before yesterday's hearing—while affirming expedited discovery he awarded Neugebauer last week—setting the proxy on an untenable timeline for shareholders The recusal requires a new judge to get up to speed on the board's 70% supermajority bylaw change and discovery approvals, ensuring the timeline no longer supports running a true dual track process on the schedule Fermi requires to be successful Neugebauer calls on the court to urgently rule on the board's 70% bylaw supermajority voting power grab as it casts a cloud over Fermi and the future of Texas corporate stewardship at large; pledges to press forward with the judicial process to ensure Texas-style good governance and transparency moving forward Neugebauer's call for a special meeting earned the backing of Glass Lewis and Egan-Jones, two of the nation's leading proxy advisory firms, as well as some of the world's highest-profile investors Neugebauer remains highly confident in Fermi's ability to secure the tenant group, assuming it is the one he and his team were contracting upon his departure Neugebauer calls for former colleagues to avoid the tendency to outsource Fermi's execution, and instead embody the original Fermi 2.0 mentality that he began last December as it will be required to execute strong tenant group agreements and partnerships on time and on budget – 'make us proud' Above all, Neugebauer's focus remains on Fermi's long-term success — the company he envisioned, founded, and built; Just this week, Seeking Alpha referred to Project Matador as the 'most valuable asset in the AI race' DALLAS, July 3, 2026 /PRNewswire/ -- Toby Neugebauer, co-founder and largest shareholder of Fermi Inc. (d/b/a Fermi America) (Nasdaq: FRMI) ("Fermi" or the "Company"), today announced that he is suspending his current proxy campaign — the solicitation of GREEN agent designations to call a special meeting of shareholders — following the presiding judge's last-minute recusal shortly before yesterday's scheduled hearing. In recusing himself, the judge reaffirmed the expedited discovery order he issued in Mr.

prnewswire.com - 2026-07-03 13:03:00

Fermi Inc. offers a pure-play bet on AI infrastructure's next bottleneck: electricity delivery, with Project Matador as its core asset. FRMI holds valuable permits and land for an 11–17 GW AI campus in Texas, combining regulatory progress, power-generation strategy, and a large contiguous site. Despite no operating revenue and high capital needs, FRMI's balance sheet and strategic positioning create asymmetric upside if a binding tenant is secured.

seekingalpha.com - 2026-07-02 00:13:05

Just days after the Texas Business Court ordered Fermi to produce documents and testimony explaining the rationale for its 70% supermajority bylaw, the Company

prnewswire.com - 2026-07-01 16:48:00

Just days after the Texas Business Court ordered Fermi to produce documents and testimony explaining the rationale for its 70% supermajority bylaw, the Company filed a notice of non-suit dismissing its own case Fermi's two leading law firms, Baker Botts and Paul Weiss, file to be removed from the case two weeks ago Fermi abandons its own lawsuit rather than explain its entrenched late night 70% supermajority bylaw actions under oath recently mandated by Texas Business Court ruling approving expedited discovery The Board's claims about tenants, Toby's behavior, Fermi 2.0, etc. would have been easily exposed as completely untrue as would their lack of a single communication or disciplinary action for claims they later alleged Fermi's retreat speaks louder than its complaint: a board confident in its conduct does not run from discovery Mr.

prnewswire.com - 2026-07-01 16:33:00

Fermi Inc. (FRMI) Shareholder/Analyst Call Transcript

seekingalpha.com - 2026-06-30 20:02:09

Landmark agreement supercharges the simple cycle phase of the Siemens 6x1 facility powering the Project Matador campus in Amarillo, Texas, and marks another decisive step in Fermi's 2.0 execution strategy AMARILLO, Texas, June 30, 2026 /PRNewswire/ -- Fermi today announced a major agreement with Primoris Energy Services, part of Primoris Services Corporation, to engineer and construct the balance of plant for the first six SGT-800 gas turbines anchoring Fermi's phase one power buildout. The agreement covers the engineering, procurement, and construction scope for the simple cycle phase of Fermi's Siemens 6x1 combined cycle generating facility, rising adjacent to the Project Matador hyperscale computing and data center campus in Amarillo, Texas.

prnewswire.com - 2026-06-30 08:30:00

Fermi offers a highly speculative but potentially massive upside, targeting AI infrastructure via a REIT model with a 17 GW power campus in Texas. FRMI trades at 16x forward P/FFO, but true value hinges on flawless execution, rapid ramp-up, and securing major AI clients like OpenAI. Projected 2028 revenues of $4.5B and FFO of $2–2.5B could yield a 2x forward P/FFO, but execution, financing, and client acquisition risks remain acute.

seekingalpha.com - 2026-06-29 00:49:45

NEUGEBAUER PROPOSES HISTORIC TOWN HALL WEBINAR WITH FERMI CO-FOUNDERS GOVERNOR RICK PERRY AND SON GRIFFIN PERRY ON JUNE 30--SO SHAREHOLDERS CAN

gurufocus.com - 2026-06-25 14:00:00

Neugebauer Calls for Leading Analysts, Journalists, and Industry Experts Regularly Covering Fermi Who Know It Best Ask the Tough Questions — So Shareholders Have All the Facts Before Voting DALLAS, June 25, 2026 /PRNewswire/ -- Toby Neugebauer, co-founder and largest individual shareholder of Fermi America, Inc. (Nasdaq: FRMI), today proposed a historic town hall webinar for Tuesday, June 30th — inviting Governor Rick Perry and his son Griffin Perry to join him before shareholders vote, so that investors can hear first-hand each party's views on the past, present, and future of Fermi. Neugebauer is proposing that the leading analysts, journalists, and industry experts who regularly cover Fermi ask the tough questions — so that investors have all the facts.

prnewswire.com - 2026-06-25 13:46:00

Agreement accelerates engineering and permitting activities for Project Matador's second phase buildout DALLAS, June 25, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that it has signed a service agreement with TSK Electronica y Electricidad USA, Corp. ("TSK") for its three Siemens SGT6-5000F gas turbines that will anchor Project Matador's second phase buildout. As Spain's largest power-focused Engineering, Procurement and Construction (EPC) firm, TSK specializes in the turnkey delivery of complex industrial and power generation facilities, with a proven track record spanning more than 50 countries and deep expertise in electrical infrastructure, conventional and renewable power, and large-scale project management.

prnewswire.com - 2026-06-25 08:30:00

We have so many choices – let's choose the best one Assuming it's the same group Neugebauer told market they were contracting on the earnings call before Toby was terminated, the family likes that tenant group a lot. Proxy is not about can Fermi get a tenant; Proxy is about restoring normal governance, And evaluating all potential strategic full value transactions, To ensure the best risk-adjusted outcome for all shareholders, employees, and the people of the Texas Panhandle DALLAS, June 24, 2026 /PRNewswire/ -- Toby Neugebauer, co-founder and largest individual shareholder of Fermi Inc. (NASDAQ: FRMI), today issued the following letter about his solicitation for shareholders to call a Special Meeting of Shareholders to allow shareholders to have their first voice on the future of Fermi.

prnewswire.com - 2026-06-24 18:34:00

In testimony before the House Natural Resources Committee, Chief Site Development Officer Charlie Hamilton details an advanced cooling and reuse strategy engineered to use roughly 80 percent less water than conventional methods. AUSTIN, Texas, June 24, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today underscored its commitment to responsible environmental stewardship as Chief Site Development Officer Charlie Hamilton testified before the Texas House Natural Resources Committee at an interim hearing examining data center water use and conservation.

prnewswire.com - 2026-06-24 08:30:00

Mr. Neugebauer's Pattern of Falsehoods Reinforce that He Cannot be Trusted to Oversee Fermi; His Gaining Control of the Company Would Jeopardize Shareholder Value Fermi Urges Shareholders to Return the WHITE Consent Revocation Card Today DALLAS, June 22, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that it is mailing a letter to shareholders re-emphasizing that all Fermi shareholders should sign, date and return the WHITE Consent Revocation Card today in response to the consent solicitation by former Chief Executive Officer Toby Neugebauer seeking to call a Special Meeting of Shareholders ("Special Meeting"), and sets the record straight on numerous inaccuracies that Mr. Neugebauer published on June 16, 2026.

prnewswire.com - 2026-06-22 08:30:00

FRMI is pioneering a power-first, off-grid data center REIT model to address surging AI-driven electricity demand. FRMI's growth is highly concentrated in Project Matador, a massive Amarillo, TX campus aiming for 11 GW capacity and 18M sq ft of AI data center space. Execution and management risks are pronounced, with boardroom turmoil and a single-asset dependency driving a steep discount to fair value.

seekingalpha.com - 2026-06-20 19:27:59

The speculative AI data center play received positive attention this week, with OpenAI in the spotlight.

fool.com - 2026-06-17 16:19:30

No Special Meeting of Shareholders Has Been Called Toby Neugebauer Currently Does Not Have the Required Support to Call a Special Meeting of Shareholders Board Urges All Fermi Shareholders to Protect Their Investment by Returning the WHITE Consent Revocation Card Emphasizes Strong Momentum Behind Fermi 2.0 and Continued Advancement of Project Matador DALLAS, June 15, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that it is mailing a Consent Revocation Statement to shareholders enclosing a WHITE Consent Revocation Card in response to the consent solicitation by former Chief Executive Officer Toby Neugebauer seeking to call a Special Meeting of Shareholders ("Special Meeting"). The Company noted that at this time no Special Meeting has been called, as Mr.

prnewswire.com - 2026-06-15 07:00:00

Shares of Fermi Inc (NASDAQ:FRMI, LSE:FRMI) jumped more than 26% on Tuesday after reports that analyst firm JMP Citizens said OpenAI is likely among several counterparties evaluating capacity at the company's Project Matador AI power campus and that a significant deal could be imminent. JMP Citizens reportedly said that OpenAI has likely been assessing Fermi's capacity at Project Matador and flagged the potential for a major commercial agreement.

proactiveinvestors.com - 2026-06-10 14:19:20

Shares of Fermi Inc (NASDAQ:FRMI, LSE:FRMI) jumped more than 26% on Tuesday after reports that analyst firm JMP Citizens said OpenAI is likely among several...

proactiveinvestors.com - 2026-06-10 10:18:00

Mesut Uzman sold 158,541 shares for a total of ~$1.0 million on June 3, 2026, at a weighted average price of around $6.31 per share. Shares were sold from both direct accounts and indirect holdings attributed to Uzman's spouse, with no derivative securities involved in this filing.

fool.com - 2026-06-07 23:37:03

Fermi NASDAQ: FRMI co-founder and largest shareholder Toby Neugebauer said he is calling for a special shareholder meeting to elect a new board majority, arguing that the company should evaluate strategic alternatives alongside its current tenant strategy for Project Matador.

marketbeat.com - 2026-05-23 21:03:01

Fermi Inc. (FRMI) Shareholder/Analyst Call Prepared Remarks Transcript

seekingalpha.com - 2026-05-21 20:10:42

Board is Committed to Acting in the Best Interests of Fermi Shareholders and Cites Strong Momentum Behind Fermi 2.0 DALLAS, May 18, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that on May 15, 2026, it filed a preliminary Consent Revocation Statement (the "Revocation Statement") with the U.S. Securities and Exchange Commission ("SEC"). The Revocation Statement responds to former Chief Executive Officer Toby Neugebauer's preliminary consent solicitation, in which Mr.

prnewswire.com - 2026-05-18 08:30:00

Surging oil prices and hotter inflation reports reignited rate-hike concerns, sending Treasury yields to one-year highs as the Iran conflict remained stalemated despite the highly anticipated Trump-Xi summit.

seekingalpha.com - 2026-05-17 09:00:00

Expand NASDAQ: FRMI Fermi Today's Change (22.83%) $1.37 Current Price $7.37 Key Data Points Market Cap $3.8B Day's Range $5.85 - $7.74 52wk Range $4.47 - $36.99 Volume 57M Avg Vol 13M Fermi (FRMI +22.83%), a developer of private AI power campuses, closed Thursday at $7.37, up 22.83%. Shares jumped after Fermi 2.0 disclosures, and a Project Matador update led to a sharp rally.

fool.com - 2026-05-14 17:53:21

Fermi rallied on the back of its first quarter earnings release. The stock had crashed back in April amid a management re-shuffle.

fool.com - 2026-05-14 16:43:28

DALLAS, May 14, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that its Board of Directors (the "Board") has approved an amendment of the Company's Bylaws (the "Bylaws") to protect and empower shareholders unaffiliated with the Company's former Chief Executive Officer. The Bylaw amendments are intended to ensure the integrity of the Company's Board structure.

prnewswire.com - 2026-05-14 16:05:00

Fermi Inc. (FRMI) Q1 2026 Earnings Call Transcript

seekingalpha.com - 2026-05-14 14:30:50

Fermi reported another loss in Q1 and has still yet to sign a tenant. Management turmoil will make signing tenants even more difficult. Given how speculative the stock is, investors should avoid shares.

seekingalpha.com - 2026-05-14 12:51:16

Fermi NASDAQ: FRMI executives used the company's first-quarter 2026 earnings call to outline a reset of its leadership structure, reaffirm the commercial rationale for its Project Matador power campus and detail a 90-day operating plan centered on signing a binding tenant agreement.

marketbeat.com - 2026-05-14 11:07:48

Secures over 2 GW of power generation; advances ~11 GW of permitted capacity; closes ~$785 million in new equipment financing; strengthens governance; and accelerates commercial engagement DALLAS, May 14, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today reported first quarter 2026 financial results. A conference call is scheduled for 9 a.m.

prnewswire.com - 2026-05-14 07:00:00

DALLAS, May 12, 2026 /PRNewswire/ -- Toby Neugebauer, Co-Founder and largest shareholder of Fermi Inc. (d/b/a Fermi America) (Nasdaq: FRMI) ("Fermi" or the "Company"), today responded to the Company threatening to confiscate some of his family shares by announcing that he and his family have decided to gift a percentage of their shares to help the Company solve the 5/50 REIT Rule if and when the Company qualifies as a REIT, to well-deserving foundations and charities. The Neugebauer family, undeterred by threats, believe this is a far better result and are honored to be able to help others in this manner.

prnewswire.com - 2026-05-12 18:32:00

Former CEO Toby Neugebauer is Attempting to Fill the Board with His Acolytes to  Force a Sale of the Company at a Depressed Valuation – Fermi's Stock Declined More than 80% During Neugebauer's Tenure Fermi Board Will Continue to Take Actions That it Believes is in the Best Interests of All Shareholders DALLAS, May 11, 2026 /PRNewswire/ -- Fermi Inc. (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced the unanimous decision by the Risk and Disclosure Committee of its Board of Directors (the "Board") to confirm the prior cancellation of the special meeting of shareholders (the "Special Meeting") former CEO Toby Neugebauer attempted to call on the eve of his removal for cause and scheduled for May 29, 2026. Mr. Neugebauer attempted to call the Special Meeting to appoint five directors to the Board, thereby allowing him to take control of the Board and force the sale of the Company at a depressed valuation.

prnewswire.com - 2026-05-11 16:30:00

DALLAS--(BUSINESS WIRE)--Caddis Capital, LLC (“Caddis Capital,” the “firm,” “our,” or “we”) is the second-largest shareholder in Fermi Inc. (“Fermi” or the “Company”) (NASDAQ: FRMI) (LSE: FRMI), owning approximately 9.3% of the Company's outstanding common shares. Caddis Capital today issued the following statement reaffirming the firm's support for Fermi's Board of Directors (the “Board”), the Company's management team, and its long-term strategic plan. Caddis Capital also underscored its oppo.

businesswire.com - 2026-05-11 09:00:00

DALLAS, May 8, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ ("Fermi" or the "Company"), announced today that it plans to release first quarter 2026 financial results at 7 a.m. Eastern Time / 12 p.m.

prnewswire.com - 2026-05-08 14:00:00

Fermi Rejects Mr. Neugebauer's Self-Interested Attempt to Call Special Shareholder Meeting as Invalid and Urges Shareholders Not to Respond to His Consent Solicitation Company Has Received Significant Support for Fermi 2.0 from Shareholders Who Firmly Reject Mr.

prnewswire.com - 2026-05-05 21:04:00

DALLAS, May 5, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (NASDAQ: FRMI) (LSE: FRMI), a pioneering developer of next-generation private electric grids for artificial intelligence, today announced that Larry Kellerman has been appointed to the Board of Directors as an independent director. Marius Haas, Chairman of the Board of Fermi, said: "The Board looks forward to welcoming Larry as a new director as we continue to oversee execution of Fermi's strategic priorities.

prnewswire.com - 2026-05-05 19:56:00

Recently ousted CEO Toby Neugebauer is calling for a shareholder vote at Fermi, though its unclear if the meeting will take place.

barrons.com - 2026-05-05 10:46:00