{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-26-078366","form_type":"8-K","ticker":"FRMI","cik":"0002071778","company_name":"Fermi Inc.","filed_at":"2026-07-15T20:54:32+00:00","discovered_at":"2026-07-15T20:55:01.423205+00:00","generated_at":"2026-07-15T20:55:07.467613+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Fermi closes $431.25M convertible notes offering; capped call limits dilution to 2% if stock triples","bullets":["Issued $431.25M aggregate principal of 5.00% convertible senior notes due 2031; net proceeds $416.81M after fees.","Initial conversion price $9.52/share (30% premium); capped call raises effective conversion to $14.64 (100% premium).","Used $34.5M for capped call transactions; remainder for general corporate purposes and Project Matador.","Notes mature July 15, 2031; no financial maintenance covenants; interest payable semi-annually.","Company states offering strengthens balance sheet for tenant agreements and power delivery milestones."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-078366","json":"https://secwatch.observer/filing/0001213900-26-078366.json","markdown":"https://secwatch.observer/filing/0001213900-26-078366.md","text":"https://secwatch.observer/filing/0001213900-26-078366.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026078366/0001213900-26-078366-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026078366/ea0298074-8k_fermi.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-07-15T20:55:07.467613+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}