Fermi America™ formally announced the public offering of its long-awaited initial public offering (IPO), slated to be a milestone in the growth of the company.
The company, presently structured as Fermi LLC and to be converted into Fermi Inc. before the registration becomes effective, announced that it has initiated the process of roadshowing its proposed public offering of 25,000,000 shares of its common stock.
As part of the base offering, Fermi America will also offer underwriters a 30-day option to purchase as much as 3,750,000 additional common shares. The shares will be sold at the offering price, less underwriting discounts and commissions. The IPO price will be between $18 and $22 per share, the company said.
Fermi America plans to list its common stock on the Nasdaq Global Select Market and the London Stock Exchange under the ticker symbol “FRMI.” The dual listing reflects the company’s goal of establishing an international investor base as it moves to be a leader in next-generation energy solutions with the purpose of powering artificial intelligence at scale.
The net proceeds from the IPO, along with its current cash, cash equivalents, and short-term investments, will be utilized by the company for some of its most important goals:
- Facilitating the ongoing growth and expansion of its business
- Hiring top-flight people to expand its senior leadership team
- Increasing financial flexibility
General corporate purposes, such as procurement, construction, and installation of long lead-time energy infrastructure components
The planned IPO is backed by a powerhouse roster of financial institutions. UBS Investment Bank, Evercore ISI, Cantor, and Mizuho are serving as book-running managers of the offering. Other bookrunners include Macquarie Capital, Rothschild & Co, Stifel, Truist Securities, Berenberg, and Panmure Liberum. In addition, Ocean Wall has been engaged as an advisor in relation to the company’s listing on the London Stock Exchange.
The IPO will be strictly done through a prospectus. Prospective investors can get copies of the preliminary prospectus when available at:
- UBS Securities LLC, 11 Madison Ave, New York, NY 10010, or by email to [email protected], telephone (888) 827-7275
- Evercore Group L.L.C., 55 East 52nd Street, 35th Floor, New York, NY 10055, email [email protected], telephone (888) 474-0200
- Cantor Fitzgerald & Co., 110 East 59th Street, 6th Floor, New York, NY 10022, email [email protected]
- Mizuho Securities USA LLC, 1271 Avenue of the Americas, 3rd Floor, New York, NY 10020, email [email protected], phone (212) 205-7600
Please be aware that a registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective. Until becoming effective, the securities will not be sold, and offers to purchase cannot be solicited. This press release is not an offer to sell or a solicitation of an offer to purchase, nor will there be any sale of securities in any state or jurisdiction where such sale would be prohibited under the laws thereof prior to registration or qualification under the applicable state securities laws.
About Fermi America™
Fermi America is constructing next-gen private electric grids that will provide extremely redundant power at gigawatt scale, answering the enormous energy demand necessary to power the next generation of artificial intelligence innovation. Rick Perry, former U.S. Energy Secretary, and Toby Neugebauer, Co-founder and former Co-Managing Partner of Quantum Energy, co-founded the company.
The vision of the company is to integrate nuclear energy, combined-cycle natural gas, utility grid power, solar, and advanced battery storage systems into a holistic, behind-the-meter energy campus. The combined strategy aims to create the largest nuclear energy complex in the United States while offering scalable, dependable, and diversified power solutions for hyperscalers and AI-powered businesses.
Fermi America points out that this offering is not just an investment opportunity for investors to participate in an innovative energy solution but also a step of utmost importance towards building infrastructure that can handle the increasingly growing needs of artificial intelligence and high-performance computing globally.
With its IPO, Fermi America is marking a going public bet on transforming the energy world while giving investors access to a company that is set to be at the forefront of energy innovation, technology integration, and large-scale infrastructure creation.
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