Financing ·
Fermi Inc. commenced an offering for the sale of $350 million aggregate principal amount of convertible senior notes…
FRMIFermi Inc.
Fermi Inc. commenced an offering for the sale of $350 million aggregate principal amount of convertible senior notes due 2031 to qualified institutional buyers. The company expects to grant initial purchasers an option to purchase an additional $52.5 million in Notes. Net proceeds will be used to pay for capped call transactions and general corporate purposes. Additionally, the company has deferred its election to be taxed as a real estate investment trust (REIT) until its taxable year ending December 31, 2026. Fermi Inc. operates in the real estate sector.