{"filing":{"accession_number":"0001213900-26-078366","cik":"0002071778","ticker":"FRMI","company_name":"Fermi Inc.","form":"8-K","filing_date":"2026-07-15","report_date":null,"primary_document":"ea0298074-8k_fermi.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/2071778/000121390026078366/ea0298074-8k_fermi.htm"},"events":[{"id":18197,"run_id":16349,"accession_number":"0001213900-26-078366","anchor_item_number":"2.03","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.97,"summary":"Fermi Inc. completed an upsized offering of $431.25 million aggregate principal amount of 5.00% Convertible Senior Notes due 2031, with net proceeds of approximately $416.81 million. The convertible notes were issued to Initial Purchasers under Section 4(a)(2) and Rule 144A exemptions and are convertible into up to 58,913,925 shares of common stock at an initial conversion price of approximately $9.52 per share. The company also entered into capped call transactions to mitigate dilution to existing shareholders.","company_name":"Fermi Inc.","ticker":"FRMI","filing_date":"2026-07-15","form":"8-K","submitted_at":null,"items":[{"id":16933,"accession_number":"0001213900-26-078366","item_number":"2.03","item_title":"Creation of a Direct Financial Obligation","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.98,"reasoning":"Fermi Inc. completed an upsized offering of $431.25 million aggregate principal amount of 5.00% Convertible Senior Notes due 2031, with net proceeds of approximately $416.81 million. This is a clear creation of a direct financial obligation through debt issuance. The convertible notes structure, capped call transactions, and five-year maturity are all standard debt issuance terms disclosed in Item 2.03 and the supporting press release.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-15T20:55:44.726094+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16934,"accession_number":"0001213900-26-078366","item_number":"3.02","item_title":"Unregistered Sales of Equity Securities.","event_type":"dilutive_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Fermi Inc. conducted an unregistered sale of $431.25 million aggregate principal amount of 5.00% Convertible Senior Notes due 2031 to Initial Purchasers under Section 4(a)(2) and Rule 144A exemptions. The Notes are convertible into up to 58,913,925 shares of common stock at an initial conversion price of approximately $9.52 per share. This is a classic dilutive issuance—a private placement of convertible securities that creates substantial potential equity dilution to existing shareholders, with the company explicitly acknowledging the dilution mitigation through capped call transactions. The materiality is clear: the offering strengthens the balance sheet and is central to the company's capital strategy for Project Matador.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-15T20:55:44.726094+00:00","company_name":"","ticker":null,"filing_date":""},{"id":16935,"accession_number":"0001213900-26-078366","item_number":"7.01","item_title":"Regulation FD Disclosure.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"The filing discloses the closing of a $431.25 million offering of 5.00% Convertible Senior Notes due 2031, including the full exercise of the initial purchasers' option for an additional $56.25 million. This represents the creation of a new direct financial obligation—a convertible debt instrument—which is the hallmark of a debt_issuance event. The press release details the terms, strategic rationale, and use of proceeds, making this a material capital-raising event for the company.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-15T20:55:44.726094+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":16933,"accession_number":"0001213900-26-078366","item_number":"2.03","item_title":"Creation of a Direct Financial Obligation","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.98,"reasoning":"Fermi Inc. completed an upsized offering of $431.25 million aggregate principal amount of 5.00% Convertible Senior Notes due 2031, with net proceeds of approximately $416.81 million. This is a clear creation of a direct financial obligation through debt issuance. The convertible notes structure, capped call transactions, and five-year maturity are all standard debt issuance terms disclosed in Item 2.03 and the supporting press release.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-15T20:55:44.726094+00:00","company_name":"Fermi Inc.","ticker":"FRMI","filing_date":"2026-07-15"},{"id":16934,"accession_number":"0001213900-26-078366","item_number":"3.02","item_title":"Unregistered Sales of Equity Securities.","event_type":"dilutive_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Fermi Inc. conducted an unregistered sale of $431.25 million aggregate principal amount of 5.00% Convertible Senior Notes due 2031 to Initial Purchasers under Section 4(a)(2) and Rule 144A exemptions. The Notes are convertible into up to 58,913,925 shares of common stock at an initial conversion price of approximately $9.52 per share. This is a classic dilutive issuance—a private placement of convertible securities that creates substantial potential equity dilution to existing shareholders, with the company explicitly acknowledging the dilution mitigation through capped call transactions. The materiality is clear: the offering strengthens the balance sheet and is central to the company's capital strategy for Project Matador.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-15T20:55:44.726094+00:00","company_name":"Fermi Inc.","ticker":"FRMI","filing_date":"2026-07-15"},{"id":16935,"accession_number":"0001213900-26-078366","item_number":"7.01","item_title":"Regulation FD Disclosure.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"The filing discloses the closing of a $431.25 million offering of 5.00% Convertible Senior Notes due 2031, including the full exercise of the initial purchasers' option for an additional $56.25 million. This represents the creation of a new direct financial obligation—a convertible debt instrument—which is the hallmark of a debt_issuance event. The press release details the terms, strategic rationale, and use of proceeds, making this a material capital-raising event for the company.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-07-15T20:55:44.726094+00:00","company_name":"Fermi Inc.","ticker":"FRMI","filing_date":"2026-07-15"}]}