{"success":true,"data":{"pressRelease":{"id":"3946","rtpr_id":"nPn6HFDlga","ticker":"FRMI","exchange":"NASDAQ","all_tickers":["FRMI"],"title":"/U P D A T E -- Fermi Inc./","author":"PR Newswire","published_at":"2026-04-22T03:55:10.642Z","article_body":"/U P D A T E -- Fermi Inc./\n\nPR Newswire\n\nDALLAS, April 21, 2026\n\nIn the news release, FERMI PROVIDES BUSINESS UPDATE, issued April 21, 2026 by\nFermi Inc. over PR Newswire, we are advised by the company that changes have\nbeen made. The complete, corrected release follows, with additional details at\nthe end:\n\nFERMI PROVIDES BUSINESS UPDATE\n\nDALLAS, April 21, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America)\n(NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ (\"Fermi\" or the\n\"Company\"), subsequent to the Company's announcement of Fermi 2.0 on April 20,\n2026, has received significant and positive feedback from multiple potential\ntenants, the Company's landlord, the Texas Tech University System, as well as\nsuppliers, vendors, contractors, financing sources, and other partners. The\nCompany is gratified by that feedback and is pursuing Fermi 2.0's business and\nleadership objectives with all deliberate speed.\n\n(https://mma.prnewswire.com/media/2960164/Fermi_Logo.html)\n\nThe Company also acknowledges receipt of a letter from Mr. Toby Neugebauer,\nand has reviewed a press release issued by him, calling for the initiation of\na process for the immediate sale of the Company. As Mr. Neugebauer indicated\nin his press release, he was removed from his position on April, 17, 2026,\n after careful consideration by the Company's Board of Directors in\naccordance with its fiduciary duties. Given recent changes in leadership,\nwhich position the Company for its next chapter of growth and evolution from a\nstartup to a scaled enterprise, the Company firmly believes a sale is not in\nthe best interest of its continued momentum on Project Matador, ability to\nserve potential tenants and long-term value creation for shareholders. The\nBoard, consistent with its fiduciary duties, will carefully review all avenues\nto maximize shareholder value, which include continued execution of its\nbusiness plan, strategic investments from third parties, joint ventures or\nother transactions.\n\nAbout Fermi America™\n\nFermi America™ (Nasdaq & LSE: FRMI) develops next-generation private\nelectric grids that deliver highly redundant power at gigawatt scale to\nsupport next-generation intelligence and AI compute. Fermi America™ combines\ncutting-edge technology with a deep bench of proven world-class\nmulti-disciplinary leaders with a combined 25 GW of experience, to create the\nworld's largest, 11 GW next-gen private grid, helping ensure America's energy\nand AI dominance. The behind-the-meter Project Matador campus is expected to\nintegrate the nation's biggest combined-cycle natural gas project, one of the\nlargest clean, new nuclear power complexes in America, utility grid power,\nsolar power, and battery energy storage, to support hyperscale AI and advanced\ncomputing.\n\nForward-Looking Statements\n\nStatements contained in this press release which are not historical facts,\nsuch as those relating to future events, are forward-looking statements within\nthe meaning of the Private Securities Litigation Reform Act of 1995. Fermi\nundertakes no duty to publicly update or revise such forward-looking\ninformation, whether as a result of new information, future events, or\notherwise. Investors should consult further disclosures and risk factors\nincluded in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q,\nCurrent Reports on Form 8-K, the Registration Statement on Form S-8 and other\ndocuments filed from time to time with the SEC by Fermi.\n\nUpdate: Company boilerplate and disclosure language have been updated.\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/fermi-provides-business-update-302749474.html\n(https://www.prnewswire.com/news-releases/fermi-provides-business-update-302749474.html)\n\nSOURCE Fermi Inc.\n\n\n\nInvestor Relations Contact: Rodrigo Acuna, ir@fermiamerica.com; Media Contact: fermi@h-advisors.global\n\nPhoto: \nhttps://mma.prnewswire.com/media/2960164/Fermi_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn6HFDlga","title":"/U P D A T E -- Fermi Inc./","author":"PR Newswire","ticker":"FRMI","created":"2026-04-22T03:55:10.642Z","tickers":["FRMI"],"exchange":"NASDAQ","article_body":"/U P D A T E -- Fermi Inc./\n\nPR Newswire\n\nDALLAS, April 21, 2026\n\nIn the news release, FERMI PROVIDES BUSINESS UPDATE, issued April 21, 2026 by\nFermi Inc. over PR Newswire, we are advised by the company that changes have\nbeen made. The complete, corrected release follows, with additional details at\nthe end:\n\nFERMI PROVIDES BUSINESS UPDATE\n\nDALLAS, April 21, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America)\n(NASDAQ: FRMI) (LSE: FRMI), operating as Fermi America™ (\"Fermi\" or the\n\"Company\"), subsequent to the Company's announcement of Fermi 2.0 on April 20,\n2026, has received significant and positive feedback from multiple potential\ntenants, the Company's landlord, the Texas Tech University System, as well as\nsuppliers, vendors, contractors, financing sources, and other partners. The\nCompany is gratified by that feedback and is pursuing Fermi 2.0's business and\nleadership objectives with all deliberate speed.\n\n(https://mma.prnewswire.com/media/2960164/Fermi_Logo.html)\n\nThe Company also acknowledges receipt of a letter from Mr. Toby Neugebauer,\nand has reviewed a press release issued by him, calling for the initiation of\na process for the immediate sale of the Company. As Mr. Neugebauer indicated\nin his press release, he was removed from his position on April, 17, 2026,\n after careful consideration by the Company's Board of Directors in\naccordance with its fiduciary duties. Given recent changes in leadership,\nwhich position the Company for its next chapter of growth and evolution from a\nstartup to a scaled enterprise, the Company firmly believes a sale is not in\nthe best interest of its continued momentum on Project Matador, ability to\nserve potential tenants and long-term value creation for shareholders. The\nBoard, consistent with its fiduciary duties, will carefully review all avenues\nto maximize shareholder value, which include continued execution of its\nbusiness plan, strategic investments from third parties, joint ventures or\nother transactions.\n\nAbout Fermi America™\n\nFermi America™ (Nasdaq & LSE: FRMI) develops next-generation private\nelectric grids that deliver highly redundant power at gigawatt scale to\nsupport next-generation intelligence and AI compute. Fermi America™ combines\ncutting-edge technology with a deep bench of proven world-class\nmulti-disciplinary leaders with a combined 25 GW of experience, to create the\nworld's largest, 11 GW next-gen private grid, helping ensure America's energy\nand AI dominance. The behind-the-meter Project Matador campus is expected to\nintegrate the nation's biggest combined-cycle natural gas project, one of the\nlargest clean, new nuclear power complexes in America, utility grid power,\nsolar power, and battery energy storage, to support hyperscale AI and advanced\ncomputing.\n\nForward-Looking Statements\n\nStatements contained in this press release which are not historical facts,\nsuch as those relating to future events, are forward-looking statements within\nthe meaning of the Private Securities Litigation Reform Act of 1995. Fermi\nundertakes no duty to publicly update or revise such forward-looking\ninformation, whether as a result of new information, future events, or\notherwise. Investors should consult further disclosures and risk factors\nincluded in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q,\nCurrent Reports on Form 8-K, the Registration Statement on Form S-8 and other\ndocuments filed from time to time with the SEC by Fermi.\n\nUpdate: Company boilerplate and disclosure language have been updated.\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/fermi-provides-business-update-302749474.html\n(https://www.prnewswire.com/news-releases/fermi-provides-business-update-302749474.html)\n\nSOURCE Fermi Inc.\n\n\n\nInvestor Relations Contact: Rodrigo Acuna, ir@fermiamerica.com; Media Contact: fermi@h-advisors.global\n\nPhoto: \nhttps://mma.prnewswire.com/media/2960164/Fermi_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-04-22T03:55:10.706034134Z","server_sent_at_ms":1776830110706},"received_at":"2026-04-22T03:55:10.758Z","source_url":null},"analysis":{"id":"2748","press_release_id":"3946","analysis_json":{"industry":{"label":"Utilities","sector":"Utilities"},"redFlags":["Activist investor pressure for immediate sale","Removal of company leader/director Toby Neugebauer"],"eventType":"other","narrative":"Fermi Inc. issued a corrected business update confirming positive feedback on its Fermi 2.0 initiative from tenants and the Texas Tech University System.\n\nThe company acknowledged a letter from Toby Neugebauer calling for an immediate sale but firmly rejected the proposal, stating a sale is not in the best interest of shareholders or the momentum of Project Matador.\n\nMr. Neugebauer was removed from his position on April 17, 2026, while the Board remains focused on executing its business plan and exploring strategic investments.","sentiment":"mixed","agentHooks":{"shouldPost":false,"suggestedAngle":"Fermi rejects activist sale demands, prioritizes Project Matador execution."},"keyFigures":{"customDimensions":{"project_capacity_gw":11}},"quotedText":"The Company firmly believes a sale is not in the best interest of its continued momentum on Project Matador, ability to serve potential tenants and long-term value creation for shareholders.","namedEntities":{"people":[{"name":"Toby Neugebauer"},{"name":"Rodrigo Acuna","role":"Investor Relations Contact"}],"products":["Fermi 2.0","Project Matador"],"companies":[{"name":"Texas Tech University System","relationship":"landlord"}],"dollarAmounts":[]},"materialImpact":{"score":3,"reasoning":"The release addresses material governance friction, including the removal of a director/leader and rejection of activist pressure to sell the company. While the company asserts positive business momentum, the conflict with a former insider creates uncertainty."},"tickerRelevance":{"others":[],"primary":"FRMI"},"eventTypeSecondary":["executive_change"]},"event_type":"other","event_type_secondary":["executive_change"],"sentiment":"mixed","material_impact_score":3,"narrative":"Fermi Inc. issued a corrected business update confirming positive feedback on its Fermi 2.0 initiative from tenants and the Texas Tech University System.\n\nThe company acknowledged a letter from Toby Neugebauer calling for an immediate sale but firmly rejected the proposal, stating a sale is not in the best interest of shareholders or the momentum of Project Matador.\n\nMr. Neugebauer was removed from his position on April 17, 2026, while the Board remains focused on executing its business plan and exploring strategic investments.","key_figures":{"customDimensions":{"project_capacity_gw":11}},"named_entities":{"people":[{"name":"Toby Neugebauer"},{"name":"Rodrigo Acuna","role":"Investor Relations Contact"}],"products":["Fermi 2.0","Project Matador"],"companies":[{"name":"Texas Tech University System","relationship":"landlord"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:2f2748f0fcc8c4f2","schema_hash":"sha256:ad96b863d7123008","created_at":"2026-04-22T04:31:37.210Z","global_importance":3,"audience_relevance":3,"importance_components":{"method":"backfill-heuristic","signals":{"bodyLong":false,"headlineTier1":false,"tickerCovered":false,"hadSignificance":false},"version":1,"computedAt":"2026-04-27T11:52:53.846Z"}},"durationMs":46868,"modelName":"glm-4.7"}}