Fermi Inc.: Amended and restated bylaws to increase shareholder voting threshold to 70% for amending provisions related to director tenure and bylaw amendments (effective 2026-05-13).
“On May 13, 2026, the Board of Directors of Fermi Inc. (the “Company”) approved the amendment and restatement of the Company’s Bylaws (the “Amended and Restated Bylaws”), effective immediately.”
Larry Kellerman was elected as Director at Fermi Inc..
“the board of directors of the Company (the “Board”) elected effective as of May 4, 2026, Mr. Larry Kellerman, the Chief Power Officer of the Company, to the Board to fill the vacancy created by Mr. Neugebauer’s previously announced departure from the Board.”
Larry Kellerman was elected as Chief Power Officer at Fermi Inc..
“the board of directors of the Company (the “Board”) elected effective as of May 4, 2026, Mr. Larry Kellerman, the Chief Power Officer of the Company, to the Board to fill the vacancy created by Mr. Neugebauer’s previously announced departure from the Board.”
Robert L. Masson was appointed as Interim Chief Financial Officer at Fermi Inc..
“On April 29, 2026, the Board of Directors (the “Board”) of Fermi Inc. (the “Company) appointed Robert L. Masson as Interim Chief Financial Officer (“Interim CFO”) and the principal financial officer of the Company effective April 29, 2026, until a permanent successor is named.”
Toby Neugebauer was removed as director at Fermi Inc..
“As a result of his termination for Cause, Mr. Neugebauer was automatically removed from the Company’s board of directors.”
Toby Neugebauer was terminated as not explicitly stated at Fermi Inc..
“On April 30, 2026, the Company terminated Mr. Toby Neugebauer’s employment for Cause pursuant to his Employment Agreement as a result of conduct in violation of the terms of such agreement and of Company policies.”
Earnings Releases
Fermi Inc. reported financial results for the period from January 10, 2025 (Inception) through December 31, 2025.
“On March 30, 2026, Fermi Inc. (the “Company”) issued its shareholder letter (the “Shareholder Letter”) announcing its financial results for the period from January 10, 2025 (Inception) through December 31, 2025.”
Debt Financings
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.
“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”).”
Material Agreements
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).
“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”).”
Debt Financings
Fermi Inc. incurred credit facility of $120,000,000 with Keystone National Group, LLC (as Agent) and Keystone Private Income Fund (as Initial Lender) at 12.90% per annum maturing August 19, 2031.
“have the meaning given to them in the Credit Agreement. The Credit Agreement provides for a senior secured credit facility (the “Loan”) in an aggregate principal amount of $120,000,000 (the “Maximum Principal Amount”), which may be increased by an additional $100,000,000 subject to the terms and conditions of the Credit Agreement, to be advanced by the Lenders”
Material Agreements
Fermi Inc. entered into Credit Agreement with Keystone National Group, LLC, Keystone Private Income Fund, Cape Commercial Finance LLC valued at $120,000,000 (effective 2026-02-19).
“On February 19, 2026, Fermi High Voltage Warehouse LLC (the “Borrower”), a Texas limited liability company, entered into a Master Loan Agreement (the “Credit Agreement”) with Keystone National Group, LLC, a Delaware limited liability company, as collateral agent and administrative agent (the “Agent”) for the lenders from time to time party thereto (each, a “Lender”), Keystone Private Income Fund (the “Initial Lender”), and Cape Commercial Finance LLC (“CCF”), as sole arranger (the “Sole Arranger”).”
Debt Financings
Fermi Inc. incurred credit facility of up to $500,000,000 with MUFG Bank, Ltd. at Term SOFR rate for the applicable interest period plus 4.0% per annum, or Daily maturing eighteen-month anniversary of the Closing Date.
“capacity, “Administrative Agent”) and sole lender. The Credit Agreement provides for a senior secured equipment loan warehouse facility in an aggregate principal amount of up to $500,000,000 (the “Total Loan Commitment”). Borrowings under the Credit Agreement may be made from the Closing Date through the nine-month anniversary of the Closing Date. Each loan under the”
Material Agreements
Fermi Inc. entered into Credit Agreement with MUFG Bank, Ltd. valued at $500,000,000 (effective 2026-02-10).
“and sole lender. The Credit Agreement provides for a senior secured equipment loan warehouse facility in an aggregate principal amount of up to $500,000,000”
Governance Changes
Fermi Inc.: Amended certificate of formation to impose stock ownership requirements on shareholders submitting proposals (effective 2025-10-01).
“to impose stock ownership requirements on shareholders seeking to submit a proposal”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.