Core Viewpoint - Fermi Inc. is facing potential legal claims due to allegations of misleading statements regarding its Project Matador, particularly concerning tenant demand and funding commitments [5][6][8]. Company Overview - Fermi Inc. completed its IPO on October 1, 2025, offering approximately 32.5 million shares at $21.00 per share, with plans to develop a large electric generation campus for AI data centers [6]. - The company had identified a "First Tenant" for its Project Matador site, which was expected to lease a portion of the site under a long-term agreement [6]. Legal Proceedings - Faruqi & Faruqi, LLP is investigating claims against Fermi and has set a deadline of March 6, 2026, for investors to seek the role of lead plaintiff in a federal securities class action [2]. - The complaint alleges that Fermi and its executives violated federal securities laws by making false statements and failing to disclose critical information about tenant demand and funding risks [5]. Financial Impact - In November 2025, Fermi announced that the First Tenant had agreed to advance up to $150 million for construction costs, which was a significant funding arrangement for the Project [7]. - Following the termination of this funding agreement on December 12, 2025, Fermi's stock price dropped over 33%, closing at $10.09 per share, significantly below the IPO price [8].
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Fermi