By Rick Perry
Copyright indiatimes
Fermi LLC, which will soon be called Fermi Inc., announced it has launched the roadshow for its planned initial public offering (IPO) of 25,000,000 shares of common stock. Fermi America will give the underwriters a 30-day option to buy an additional 3,750,000 shares at the IPO price, minus underwriting fees and commissions.The expected IPO price is between $18 and $22 per share. The company plans to list its stock on the Nasdaq Global Select Market and the London Stock Exchange under the ticker FRMI, as per the reports. IPO detailsFermi America plans to use the money from the IPO, along with existing cash, cash equivalents, and short-term investments, to support the growth and development of its business, hire and secure personnel, increase financial flexibility, and cover general corporate purposes, including buying, constructing, and installing long lead-time items, as reported by PRNewswire.The book-running managers for the IPO are UBS Investment Bank, Evercore ISI, Cantor, and Mizuho. The other bookrunners are Macquarie Capital, Rothschild & Co, Stifel, Truist Securities, Berenberg, and Panmure Liberum. Ocean Wall is acting as an advisor for the proposed listing on the London Stock Exchange. Prospectus & SEC filingThe preliminary prospectus for the IPO can be obtained from:Live EventsUBS Securities LLC, New York (email: ol-prospectus-request@ubs.com)Evercore Group LLC, New York (email: ecm.prospectus@evercore.com)Cantor Fitzgerald & Co., New York (email: prospectus@cantor.com)Mizuho Securities USA LLC, New York (email: US-ECM@mizuhogroup.com)Fermi America has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), but it is not yet effective, so shares cannot be sold or offers accepted until SEC approval. The press release is not an offer to sell or a solicitation to buy shares. Sales are not allowed in any jurisdiction where such offers would be illegal before registration or qualification under securities laws, as per the report by PRNewswire.Next-Gen electric gridFermi America is working on next-generation electric grids that deliver highly redundant gigawatt-scale power, which is required for next-generation artificial intelligence. The company was co-founded by Rick Perry, former U.S. Energy Secretary, and Toby Neugebauer, former Co-Managing Partner of Quantum Energy. Fermi America plans to combine advanced technology with experienced leaders to build the world’s largest private next-generation grid. The private campus grid is expected to integrate America’s largest nuclear power complex, combined-cycle natural gas power, utility grid power, solar power, and battery energy storage. The goal of this large-scale grid is to deliver hyperscaler AI at scale, according to the report by PRNewswire.FAQsQ1. What is Fermi America’s IPO about?Fermi America’s IPO is for 25 million shares to raise money for its next-generation AI-powered electric grid.Q2. Where will Fermi America’s stock be listed?Add as a Reliable and Trusted News Source Add Now!
Fermi America plans to list its stock on the Nasdaq Global Select Market and the London Stock Exchange under the ticker FRMI.(You can now subscribe to our Economic Times WhatsApp channel)
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