secwatch.observer — SEC 8-K summary
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Issuer:     Fermi Inc. (FRMI)
CIK:        0002071778
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0001213900-26-020399
Event type: debt
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud

Fermi Inc. subsidiary enters $120M credit facility for Project Matador equipment
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/0001213900-26-020399-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2071778/000121390026020399/ea0277810-8k_fermi.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-020399

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