{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-020399","form_type":"8-K","ticker":"FRMI","cik":"0002071778","company_name":"Fermi Inc.","filed_at":"2026-02-25T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.163982+00:00","generated_at":"2026-05-16T00:32:24.427716+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Fermi Inc. subsidiary enters $120M credit facility for Project Matador equipment","bullets":["Fermi High Voltage Warehouse LLC entered a $120M senior secured credit facility with Keystone National Group as agent and Cape Commercial Finance as arranger.","Facility can be increased by up to $100M, with initial $48.9M Note No. 1 and $57.5M Note No. 2 partially drawn.","Loan matures August 2031 at 12.90% interest; proceeds finance equipment for Project Matador.","Fermi Inc. provides limited guaranty for 25% of principal; Borrower must maintain $20M liquidity until customer agreement.","Prepayment triggers include failure to deliver approved customer agreement by Dec 31, 2026, requiring prepayment at 105% of principal."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-020399","json":"https://secwatch.observer/filing/0001213900-26-020399.json","markdown":"https://secwatch.observer/filing/0001213900-26-020399.md","text":"https://secwatch.observer/filing/0001213900-26-020399.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/ea0277810-8k_fermi.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud","generated_at":"2026-05-16T00:32:24.427716+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":"805d43ff78afbd63a73566c677be8c6422c51fa8","claim":"Fermi Inc. incurred credit facility of $120,000,000 with Keystone National Group, LLC (as Agent) and Keystone Private Income Fund (as Initial Lender) at 12.90% per annum maturing August 19, 2031.","evidence_excerpt":"have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility (the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased by an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","confidence":0.9},{"claim_id":"7c9bdd069644451f4f1efa81567616ab6cefed50","claim":"Fermi Inc. entered into Credit Agreement with Keystone National Group, LLC, Keystone Private Income Fund, Cape Commercial Finance LLC valued at $120,000,000 (effective 2026-02-19).","evidence_excerpt":"On February 19, 2026, Fermi High Voltage Warehouse LLC (the “Borrower”), a Texas limited liability company, entered into a Master Loan Agreement (the “Credit Agreement”) with Keystone National Group, LLC, a Delaware limited liability company, as collateral agent and administrative agent (the “Agent”) for the lenders from time to time party thereto (each, a “Lender”), Keystone Private Income Fund (the “Initial Lender”), and Cape Commercial Finance LLC (“CCF”), as sole arranger (the “Sole Arranger”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001104659-26-068944","ticker":"TSEOF","company_name":"Trinseo PLC","filed_at":"2026-06-01T20:23:35+00:00","headline":"Trinseo obtains $142.5M new money DIP financing and $150M AR facility in Chapter 11","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-068944","json":"https://secwatch.observer/filing/0001104659-26-068944.json","markdown":"https://secwatch.observer/filing/0001104659-26-068944.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/0001104659-26-068944-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/tm2615985d1_8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"On February 19, 2026, Fermi High Voltage Warehouse LLC (the “Borrower”), a Texas limited liability company, entered into a Master Loan Agreement (the “Credit Agreement”) with Keystone National Group, LLC, a Delaware limited liability company, as collateral agent and administrative agent (the “Agent”) for the lenders from time to time party thereto (each, a “Lender”), Keystone Private Income Fund (the “Initial Lender”), and Cape Commercial Finance LLC (“CCF”), as sole arranger (the “Sole Arranger”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"On May 28, 2026, the Company, as parent, Trinseo NA Finance LLC, as holdings, Trinseo Luxco Finance SPV S.à r.l. and Trinseo NA Finance SPV LLC (together, the “ SHC Borrowers ”), as borrowers, the guarantors party thereto from time to time, the lenders party thereto from time to time (the “ SHC DIP Lenders ”), and Alter Domus (US) LLC, as administrative agent and collateral agent, entered into a Senior Secured Super-Priority Debtor-In-Possession HoldCo Credit Agreement (the “ Super-Holdco DIP Credit Agreement ”), providing for a senior secured super-priority priming term loan debtor-in-possession credit facility in an aggregate principal amount of $157.5 million (the “ Super-Holdco DIP Facility ”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1519061/000110465926068944/0001104659-26-068944-index.htm"}},{"accession":"0001805833-26-000030","ticker":"SST","company_name":"System1, Inc.","filed_at":"2026-06-01T13:00:19+00:00","headline":"System1 exchanges $302.6M debt for $150M term loan, $39.3M preferred stock, and cash","event_type":"debt","sec_items":["1.01","2.03","3.02","7.01","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: debt_financing","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-26-000030","json":"https://secwatch.observer/filing/0001805833-26-000030.json","markdown":"https://secwatch.observer/filing/0001805833-26-000030.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000030/0001805833-26-000030-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000030/sst-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility\n(the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased\nby an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"specified in the Exchange Agreement on the terms and subject to the conditions set forth therein. The consideration under the Exchange Agreement consists of (i) a new $150.0 million term loan facility held by the Participating Lenders (the “Priority Term Loans”), (ii) the issuance of 39,250 shares of Series A Cumulative Convertible Preferred Stock (the","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000030/0001805833-26-000030-index.htm"}},{"accession":"0001193125-26-215654","ticker":"ACH","company_name":"ACCENDRA HEALTH INC/VA/","filed_at":"2026-05-11T23:59:59+00:00","headline":"Accendra Health launches $326.25M 9% first lien notes, $300M revolver, and exchange offers for existing notes","event_type":"debt","sec_items":["1.01","7.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: material_agreement","same SEC item: 1.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-215654","json":"https://secwatch.observer/filing/0001193125-26-215654.json","markdown":"https://secwatch.observer/filing/0001193125-26-215654.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/75252/000119312526215654/0001193125-26-215654-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/75252/000119312526215654/d135857d8k.htm"},"side_by_side_evidence":{"fact_type":"material_agreement","source_excerpt":"On February 19, 2026, Fermi High Voltage Warehouse LLC (the “Borrower”), a Texas limited liability company, entered into a Master Loan Agreement (the “Credit Agreement”) with Keystone National Group, LLC, a Delaware limited liability company, as collateral agent and administrative agent (the “Agent”) for the lenders from time to time party thereto (each, a “Lender”), Keystone Private Income Fund (the “Initial Lender”), and Cape Commercial Finance LLC (“CCF”), as sole arranger (the “Sole Arranger”).","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"On May 11, 2026, Accendra Health, Inc. (the “ Company ”) entered into a Commitment and Consent Letter (the “ Commitment Letter ”) with certain institutions that are (a)(i) holders of the Company’s 4.500% Senior Notes due 2029 (the “ 2029 Notes ”) and 6.625% Senior Notes due 2030 (the “ 2030 Notes ” and, together with the 2029 Notes, the “ Existing Notes ”), collectively holding approximately all of the outstanding principal amount of the 2029 Notes and approximately 83% of the outstanding principal amount of the 2030 Notes as of May 11, 2026 and (ii) lenders under the Company’s existing Term Loan Credit Agreement (as defined below) (collectively, the “ Commitment and Consenting Parties ” and each, a “ Commitment and Consenting Party ”), (b) certain lenders under the Company’s existing Term Loan Credit Agreement consenting solely with respect to the Term B-1 Term Loan Consent (as defined below) (the “ Term B-1 Term Loan Consenting Parties ”) and (c) all lenders under the Company’s Exist","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/75252/000119312526215654/0001193125-26-215654-index.htm"}},{"accession":"0001415404-26-000020","ticker":null,"company_name":"Hughes Satellite Systems Corp","filed_at":"2026-06-01T12:21:01+00:00","headline":"EchoStar skips ~$183M interest payment on DBS Notes; 30-day grace period before default","event_type":"debt","sec_items":["2.04","9.01"],"materiality_score":0.9,"calibrated_materiality_score":0.9,"match_reasons":["same fact type: debt_financing","same SEC item: 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001415404-26-000020","json":"https://secwatch.observer/filing/0001415404-26-000020.json","markdown":"https://secwatch.observer/filing/0001415404-26-000020.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1533758/000141540426000020/0001415404-26-000020-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1415404/000141540426000020/sats-20260601x8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility\n(the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased\nby an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"EchoStar Corporation (“EchoStar”) has elected not to make approximately $183 million in cash interest payments due on June 1, 2026 (the “Interest Payments”) with respect to its DISH DBS Corporation (“DDBS”) subsidiary’s 5.25% secured notes due 2026 (the “2026 Notes”), 5.75% secured notes due 2028 (the “2028 Notes”) and 5.125% unsecured notes due 2029 (the “2029 Notes, and collectively with the 2026 Notes and the 2028 Notes, the “DBS Notes”) comprised of approximately $72.2 million under the 2026 Notes, $71.9 million under the 2028 Notes and $38.4 million under the 2029 Notes.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1533758/000141540426000020/0001415404-26-000020-index.htm"}},{"accession":"0001193125-26-252668","ticker":"BTU","company_name":"PEABODY ENERGY CORP","filed_at":"2026-06-02T14:17:48+00:00","headline":"Peabody prices $250M convertible notes due 2031, repurchases $241.2M of 2028 notes","event_type":"debt","sec_items":["1.01","2.03","3.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-252668","json":"https://secwatch.observer/filing/0001193125-26-252668.json","markdown":"https://secwatch.observer/filing/0001193125-26-252668.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/0001193125-26-252668-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/d112966d8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility\n(the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased\nby an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"additional $25 million in aggregate principal amount of the Notes (together with the “Initial Notes,” the “Notes”), bringing the total aggregate principal amount of the Notes to $250 million. On June 2, 2026, the Company completed the private offering of the Notes. The Notes are senior unsecured obligations of the Company. The net proceeds from this offering were","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/0001193125-26-252668-index.htm"}},{"accession":"0001882781-26-000041","ticker":"CBLO","company_name":"C2 Blockchain, Inc.","filed_at":"2026-06-02T14:08:44+00:00","headline":"C2 Blockchain raises $130K and up to $1.2M via convertible notes with heavy dilution","event_type":"debt","sec_items":["1.01","2.03","3.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt"],"urls":{"canonical":"https://secwatch.observer/filing/0001882781-26-000041","json":"https://secwatch.observer/filing/0001882781-26-000041.json","markdown":"https://secwatch.observer/filing/0001882781-26-000041.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/0001882781-26-000041-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/form8k6226o.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility\n(the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased\nby an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"On May 22, 2026, the Company entered into a Securities Purchase Agreement with Auctus Fund, LLC (“Auctus”), pursuant to which the Company issued and sold a Promissory Note in the principal amount of $130,000 (the “Auctus Note”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/0001882781-26-000041-index.htm"}},{"accession":"0001993004-26-000044","ticker":"NWE","company_name":"NorthWestern Energy Group, Inc.","filed_at":"2026-06-02T11:22:44+00:00","headline":"NorthWestern Energy subsidiary enters $225M secured term loan, repays revolver","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.5,"calibrated_materiality_score":0.5,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt"],"urls":{"canonical":"https://secwatch.observer/filing/0001993004-26-000044","json":"https://secwatch.observer/filing/0001993004-26-000044.json","markdown":"https://secwatch.observer/filing/0001993004-26-000044.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/0001993004-26-000044-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/nwe-20260527.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility\n(the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased\nby an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"NW Corp's obligations under the Term Loan are secured by a $225 million first mortgage bond","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/0001993004-26-000044-index.htm"}},{"accession":"0001140361-26-023577","ticker":"TCPC","company_name":"BlackRock TCP Capital Corp.","filed_at":"2026-06-01T20:50:02+00:00","headline":"BlackRock TCP Capital closes $535.8M CLO securitization, repays existing debt facilities","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.6,"calibrated_materiality_score":0.6,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt"],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-023577","json":"https://secwatch.observer/filing/0001140361-26-023577.json","markdown":"https://secwatch.observer/filing/0001140361-26-023577.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/ef20075169_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility\n(the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased\nby an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm","comparable_excerpt":"Item 1.01. Entry into a Material Definitive Agreement. On May 27, 2026 (the \" Closing Date \"), BlackRock TCP Capital Corp. (the \" Company \"), through its subsidiary, completed a $535,780,000 securitization of certain loans held by a subsidiary of the Company (the \" CLO Transaction \"). On the Closing Date and in connection with the CLO Transaction, BlackRock DLF 2026-C","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}