---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-035482"
form_type: "8-K"
ticker: "FRMI"
cik: "0002071778"
company_name: "Fermi Inc."
filed_at: "2026-03-27T23:59:59+00:00"
generated_at: "2026-05-15T08:44:05.391908+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Fermi subsidiary secures $165M loan for six Siemens gas turbines for Project Matador

## Summary
- Up to $165M senior secured term loan from CLMG Corp. and lenders to fund Siemens SGT-800 turbine acquisition for Project Matador.
- Interest rate 12.00% per annum, payable quarterly; default rate 14.00%.
- Maturity 33 months from closing; exit fee of $37M less cumulative interest and fees paid to date.
- Up to $22.9M reserved for interest, commitment fee, and agent fee payments.
- Fermi required to make minimum $5.49M equity contribution toward progress payments under the equipment supply agreement.

## SEC filing metadata
- accession: 0001213900-26-035482
- form_type: 8-K
- ticker: FRMI
- cik: 0002071778
- company_name: Fermi Inc.
- filed_at: 2026-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2071778/000121390026035482/0001213900-26-035482-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2071778/000121390026035482/ea0283735-8k_fermiinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-035482
- JSON: https://secwatch.observer/filing/0001213900-26-035482.json
- Plain text: https://secwatch.observer/filing/0001213900-26-035482.txt

## Source-grounded claims
- claim_id: 37c43de548cf614eccc5e912f9c550d7965b78e5
  claim: Fermi Inc. incurred credit facility of up to $165.0 million with CLMG Corp., as administrative agent and collateral agent for the lenders at 12.00% per annum maturing 33 months after the closing date.
  evidence_excerpt: The Beal Credit Agreement provides for a senior secured term loan facility in an aggregate principal amount of up to $165.0 million (the “Total Loan Commitment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/2071778/000121390026035482/0001213900-26-035482-index.htm
- claim_id: d0853d6ce5846b0c173337b4238df5f1e7f81be1
  claim: Fermi Inc. entered into Beal Credit Agreement with CLMG Corp., as administrative agent and collateral agent for the lenders, and the lenders party thereto valued at an aggregate principal amount of up to $165.0 million (effective 2026-03-26).
  evidence_excerpt: On March 26, 2026, Fermi Turbine Warehouse II LLC (“FTW II”), a Texas limited liability company and indirect wholly owned subsidiary of Fermi, Inc., entered into an Equipment Supply Loan Financing Agreement (the “Beal Credit Agreement”) with CLMG Corp., as administrative agent and collateral agent for the lenders (the “Beal Agent”), and the lenders party thereto (the “Beal Lenders”), to fund the acquisition of six Siemens Energy SGT-800 industrial gas turbines and related equipment for Project Matador (the “Beal Equipment Financing”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/2071778/000121390026035482/0001213900-26-035482-index.htm

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