---
schema_version: "secwatch.filing_event.v1"
accession: "0002071778-26-000046"
form_type: "8-K"
ticker: "FRMI"
cik: "0002071778"
company_name: "Fermi Inc."
filed_at: "2026-08-13T11:10:13+00:00"
generated_at: "2026-08-13T11:15:21.871190+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Fermi Q2: signs TensorWave lease, names CEO, raises $431M; net loss $25.8M

## Summary
- Signed 15-year lease with TensorWave for 222 MW at Project Matador; ~$6.5B total revenue.
- Appointed Lee McIntire as CEO; 40+ years at Bechtel, CH2M Hill, TerraPower.
- Raised $431M in 5.00% convertible notes due 2031; capped calls limit dilution to $14.64 strike.
- Q2 net loss $25.8M ($0.04/share); cash $91.7M; debt $520.1M; capex $185M.
- Hillcore alliance for 2.6 GW; first power 350 MW within 24 months; Fermi anchor offtaker.

## SEC filing metadata
- accession: 0002071778-26-000046
- form_type: 8-K
- ticker: FRMI
- cik: 0002071778
- company_name: Fermi Inc.
- filed_at: 2026-08-13T11:10:13+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2071778/000207177826000046/0002071778-26-000046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2071778/000207177826000046/frmi-20260813.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002071778-26-000046
- JSON: https://secwatch.observer/filing/0002071778-26-000046.json
- Plain text: https://secwatch.observer/filing/0002071778-26-000046.txt

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