secwatch.observer — SEC 8-K summary
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Issuer:     Fermi Inc. (FRMI)
CIK:        0002071778
Form:       8-K
Filed at:   2026-03-27T23:59:59+00:00
Accession:  0001213900-26-035482
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2071778/000121390026035482/0001213900-26-035482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2071778/000121390026035482/ea0283735-8k_fermiinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-035482

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