{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-014270","form_type":"8-K","ticker":"FRMI","cik":"0002071778","company_name":"Fermi Inc.","filed_at":"2026-02-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.163734+00:00","generated_at":"2026-05-16T03:41:37.417840+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Fermi secures $500M MUFG equipment loan for 11GW Project Matador turbines","bullets":["$500M senior secured equipment warehouse facility from MUFG at SOFR + 4.0% p.a., 18-month maturity.","Proceeds fund three Siemens Energy SGT6-5000F gas turbines ($168.3M to Siemens) and refinance existing term loan.","Turbine deliveries start as early as 1H 2026; total controlled generation capacity exceeds 2 GW.","Loan-to-value requirements: 65% delivered, 55% undelivered; quarterly principal payments begin after 9 months.","Financing strengthens execution certainty for first 2.3 GW of the 11 GW private grid campus."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-014270","json":"https://secwatch.observer/filing/0001213900-26-014270.json","markdown":"https://secwatch.observer/filing/0001213900-26-014270.md","text":"https://secwatch.observer/filing/0001213900-26-014270.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026014270/0001213900-26-014270-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026014270/ea0276274-8k_fermi.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T03:41:37.417840+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5502de75a558062e97c03c711ba313269f62df1a","claim":"Fermi Inc. incurred credit facility of up to $500,000,000 with MUFG Bank, Ltd. at Term SOFR rate for the applicable interest period plus 4.0% per annum, or Daily maturing eighteen-month anniversary of the Closing Date.","evidence_excerpt":"capacity, “Administrative Agent”) and sole lender. The Credit Agreement provides for a senior secured equipment loan warehouse facility in an aggregate principal amount of up to $500,000,000 (the “Total Loan Commitment”). Borrowings under the Credit Agreement may be made from the Closing Date through the nine-month anniversary of the Closing Date. Each loan under the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026014270/0001213900-26-014270-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $500,000,000"},{"label":"Counterparty","value":"MUFG Bank, Ltd."},{"label":"Rate","value":"Term SOFR rate for the applicable interest period plus 4.0% per annum, or Daily"},{"label":"Maturity","value":"eighteen-month anniversary of the Closing Date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"265af269a01e32d1f0d66f0d36651e02c2bcba3b","claim":"Fermi Inc. entered into Credit Agreement with MUFG Bank, Ltd. valued at $500,000,000 (effective 2026-02-10).","evidence_excerpt":"and sole lender. The Credit Agreement provides for a senior secured equipment loan warehouse facility in an aggregate principal amount of up to $500,000,000","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026014270/0001213900-26-014270-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"MUFG Bank, Ltd."},{"label":"Value","value":"$500,000,000"},{"label":"Effective","value":"2026-02-10"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}