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Fermi America Announces Pricing of Initial Public Offering

Deals & Cases

October 2, 2025 • 1-minute read

Vinson & Elkins represented the underwriters, led by UBS Securities LLC, Evercore Group L.L.C., Cantor Fitzgerald & Co., and Mizuho Securities USA LLC, in connection with the initial public offering of 32,500,000 shares of common stock of Fermi Inc. at a price to the public of $21.00 per share.

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.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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