---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-120940"
form_type: "8-K"
ticker: "FRMI"
cik: "0002071778"
company_name: "Fermi Inc."
filed_at: "2025-12-12T23:59:59+00:00"
generated_at: "2026-05-16T13:24:55.127872+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Fermi reports termination of $150M advance agreement by tenant at Project Matador; lease talks continue

## Summary
- First tenant terminated AICA on Dec 11, 2025; no funds had been drawn under the agreement.
- Parties continue to negotiate a definitive lease under the existing non-binding LOI.
- Exclusivity period expired Dec 9; Fermi commenced discussions with other potential tenants for 2026 power delivery.
- Company reaffirms confidence in meeting expected power delivery schedule despite AICA termination.

## SEC filing metadata
- accession: 0001213900-25-120940
- form_type: 8-K
- ticker: FRMI
- cik: 0002071778
- company_name: Fermi Inc.
- filed_at: 2025-12-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2071778/000121390025120940/0001213900-25-120940-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2071778/000121390025120940/ea0269377-8k_fermi.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-120940
- JSON: https://secwatch.observer/filing/0001213900-25-120940.json
- Plain text: https://secwatch.observer/filing/0001213900-25-120940.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.