Company Overview - Fermi Inc. (NASDAQ:FRMI) is a newly listed company that raised $682 million from its initial public offering (IPO), covering 32.5 million shares at a price of $21 each [2] - The company is focused on developing next-generation electric grids that provide highly redundant power at a gigawatt scale, essential for advancing artificial intelligence technologies [5] Stock Performance - Fermi's stock experienced a significant rebound, jumping 6.91% to close at $28.17 after a three-day losing streak, driven by investor bargain-hunting due to its perceived cheap valuation [1] - From its IPO price of $21 to the latest closing price of $28.17, the stock has appreciated by 34% [3] Financial Developments - Fermi granted underwriters a 30-day option to purchase an additional 4.87 million shares at the IPO price, which could potentially raise an additional $102 million [3] - The company has entered into an employment agreement with Toby Neugebauer as CEO, with an annual base salary of $500,000 for a three-year term [4]