July 10, 2026, 2:45 AM EDT. Fermi Inc. said it plans to offer $350 million in convertible senior notes due 2031, aimed at qualified institutional buyers. The company may also let buyers take another $52.5 million. Fermi plans to use cash from the sale for capped call transactions meant to help curb dilution from conversion, plus for general corporate spending. The notes are senior unsecured, pay semi-annual interest, and can be turned into cash, shares, or both. Final pricing, interest, and conversion terms will be set later.
