Fermi is trading 14.07% down at $6.29 after pricing an upsized $375 million convertible senior notes offering that sparked dilution concerns.
- The notes carry a 5.00% interest rate and a 2031 maturity, with an initial conversion price of approximately $9.52 per share.
- The decline is company-specific, as the S&P 500, Nasdaq, and Dow are all trading slightly higher, indicating the move is not driven by broader market sentiment.