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Fermi provides CEO letter to shareholders on capital strategy and financing approach for Project Matador

Fermi Inc. (NASDAQ:FRMI) released a letter from CEO Lee McIntire outlining a capital strategy for Project Matador, focused on preserving long-term shareholder value through capital-efficient development, customer and institutional capital participation, and limiting recourse to the corporate balance sheet. The letter lays out near-term, medium-term, and long-term priorities for managing equity allocation, building an institutional financing model, and creating a self-sustaining infrastructure platform. The relea...

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Company updateOfficial company source

Fermi amends MUFG equipment supply loan, waives 400 MW Project Matador covenant

On October 16, 2026, Fermi Inc. announced that subsidiaries Fermi Turbine Warehouse LLC (Borrower) and Firebird Equipment Holdco LLC entered into Limited Waiver and Amendment No. 1 to the Equipment Supply Loan Financing Agreement (originally dated February 10, 2026) with MUFG Bank, Ltd. as administrative agent and lender. The Amendment eliminates the covenant requiring the Company to enter into a lease or offtake arrangement for 400 MW on the Project Matador site by November 10, 2026, and eliminates the correspo...

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