🔴 Fermi is trading 14.6% down today after pricing an upsized $375 million convertible notes offering

Fermi is trading 14.6% down at $6.25 after pricing an upsized $375 million convertible senior notes offering due 2031.

• The notes will bear an interest rate of 5.00% per annum, with the offering size increased from the original $350 million target.
• Investors are reacting to the expected equity dilution and higher leverage associated with the debt issuance.
• The stock previously saw a decline during after-hours trading on July 9, 2026, following the initial launch of the notes offering.