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Wednesday, October 1, 2025

==Fermi America (FRMI) began trading on the Nasdaq on Wed 1 Oct 25

 
Founded by Rick Perry, Toby Neugebauer and Griffin Perry on January 10, 2025
Headquartered in Amrillo, TX.

Opened at $25 after pricing upsized 32.5 mln share IPO at $21, towards the high end of the $18-$22 expected price range


Fermi America provides IPO market with a jolt as advanced energy and hyperscaler development company storms out of the gate 
  • Fermi America's (FRMI) IPO drew strong demand as the upsized 32.5 mln share deal (from 25.0 mln) priced at $21, towards the upper end of the $18-$22 expected price range. The strong pricing carried over into the public market where FRMI opened for trading at $25 -- good for a 19% opening pop -- with shares currently trading near $26.
  • The company is a Texas-based data center real estate investment trust (REIT) co-founded by former U.S. Energy Secretary Rick Perry. FRMI aims to develop "Project Matador," a massive energy and data center complex in Amarillo, Texas, designed to deliver up to 11 gigawatts of power by 2038 using nuclear, natural gas, solar, and battery storage. This initiative is poised to support the growing demand for AI infrastructure.
  • Despite being founded in January 2025 and reporting a $6.4 mln loss through June 30, 2025, with no revenue, FRMI's IPO raised $682.5 mln in proceeds.
  • Investor interest was driven by the company's strategic focus on AI infrastructure, the potential for long-term growth in this sector, and its REIT structure offering potential dividends.

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