secwatch.observer — SEC 8-K summary
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Issuer:     Fermi Inc. (FRMI)
CIK:        0002071778
Form:       8-K
Filed at:   2026-08-13T11:10:13+00:00
Accession:  0002071778-26-000046
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2071778/000207177826000046/0002071778-26-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2071778/000207177826000046/frmi-20260813.htm
  HTML page:      https://secwatch.observer/filing/0002071778-26-000046

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer