Fermi America Announces Pricing of Initial Public Offering

The underwriters were granted a 30-day option to purchase up to 4,875,000 additional shares of Fermi Inc.’s common stock, which was exercised in full on October 1, 2025. The offering is expected to close on October 2, 2025, subject to customary closing conditions. The shares are expected to begin trading on Nasdaq under the symbol “FRMI” on October 1, 2025, and on the London Stock Exchange under the symbol “FRMI” on October 2, 2025. Fermi Inc., a Texas corporation, is developing a multi-gigawatt energy and data center development campus near Amarillo, Texas designed to support the accelerating needs of to-be-built AI infrastructure.

The Vinson & Elkins team was led by partners Daniel LeBey and Dave Oelman, and associate Glen Taylor, with assistance from senior associate Bekah Briggs and associates Selena Govan and Kayla Duperrouzel. Other key team members included partners Lina Dimachkieh and Paige Anderson, senior associate Lauren Nieman, and associate Erin Fant; partners Russell Oshman and Courtney Hammond, counsel Victoria Short, and associate Molly Ellisor; partner Sean Becker and associate Andrew Cox; partner Dario Mendoza and associates Keira Kuntz and Henry Crowell; partners Jeffrey Jakubiak and Winston Skinner, and associate Ryan Hoeffner; partner Jon Niermann and senior associate Kelly Rondinelli; senior associate Alexa Chally and associate Sean Dao.