REG - Fermi Inc. - Fermi Secures $156.25m Financing from Yorkville

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RNS Number : 0976Z  Fermi Inc.  01 April 2026

Fermi America™ Secures $156.25 Million Committed Financing Facility from
Yorkville Advisors, Surpassing $1 Billion in Total Committed Financing and
Capping a Year of Unmatched Execution for Project Matador

·    Yorkville Advisors Joins MUFG, Keystone National Group, and CSG
Investments/Beal Bank USA in Backing Project Matador's ~17 GW Private Power
Grid

(AMARILLO, Texas) April 4, 2026 -- Fermi Inc. (https://Fermiamerica.com)
(d/b/a Fermi America) (NASDAQ & LSE: FRMI), operating as Fermi America™,
in partnership with the Texas Tech University System (TTU System), today
announced that it has entered into a senior unsecured promissory note (the
"Yorkville Note") with YA II PN, Ltd. ("YA II PN"), an investment fund managed
by Yorkville Advisors Global, LP ("Yorkville"), providing committed financing
of up to $156.25 million to support general corporate purposes.

Yorkville is one of the most experienced structured financing partners in the
public markets, with more than two decades of deploying capital alongside
high-conviction management teams building transformational businesses. Fermi
America selected Yorkville for its deep familiarity with complex capital
structures and its track record of remaining a committed partner through
critical phases of company growth. For a project of Project Matador's scale
and urgency, the right financing partner is as important as the capital
itself. Yorkville brings both.

Today's announcement comes alongside a year of unmatched execution at Project
Matador, which Fermi America highlighted on its fiscal year 2025 earnings
call.

·    Permitting: TCEQ approved a ~6 GW Clean Air Permit, with an
additional ~5 GW permit application filed on March 27, 2026 - positioning
Project Matador to reach ~17 GW of total private power

·    Nuclear: The only active Combined Operating License Application for a
large light-water reactor accepted for review by the NRC in more than 15
years, with Project Matador selected as inaugural participant in the NRC's
accelerated environmental review pilot program

·    Construction: First phase of construction complete and more than 2 GW
of gas-fired power generation (in combined cycle) acquired

·    Capital: More than $1 billion in total committed financing secured,
including over $865 million in committed equipment financing from MUFG,
Keystone National Group, and CSG Investments/Beal Bank USA, and the $156.25
million Yorkville Note announced today

"You earn partners like Yorkville by doing what you said you would do," said
Toby Neugebauer, Chief Executive Officer and Co-Founder of Fermi America. "We
are focused on executing at FermiSpeed to ensure power certainty at scale for
our hyperscaler tenants and are honored to have such strong financial
partners."

The Yorkville Note provides up to five advances during an availability period
extending through October 1, 2026. Each advance is funded by a 4% funding
premium. The note matures in September 2027 and bears interest at 0% per
annum, subject to increase upon an event of default. No amounts have been
drawn as of the date of this release. Proceeds are designated for general
corporate purposes.

"Crossing $1 billion in committed financing in our first year is not a
milestone we take lightly," said John Donovan, Executive Vice President of
Capital Markets for Fermi America. "Yorkville brings more than capital - they
bring conviction, speed, and a track record of backing companies that deliver.
That is exactly the kind of lender we seek to partner with as we embark on the
development of our 17 GW campus."

Texas Capital Securities served as financial advisor to Fermi America in
connection with this transaction.

In connection with the Yorkville Note, Fermi America has agreed to negotiate
in good faith to establish a committed equity line of credit facility with
Yorkville, and to use commercially reasonable efforts to register the resale
of shares of common stock issuable under the note and the equity line of
credit.

"Fermi has accomplished much in a short period of time, and we are excited by
its tremendous growth potential and to be teaming up with them on financing
this growth," said Mark Angelo, President of Yorkville Advisors Global, LP.

For media inquiries:

Lexi Swearingen

Media@FermiAmerica.com

Fermi America™ official business information

Legal Entity: Fermi Inc. (d/b/a Fermi America) (NASDAQ & LSE: FRMI)

Brand Name: Fermi America™

Address: 620 S Taylor St #301 Amarillo, TX 79101-2436

Website: https://fermiamerica.com/
(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4652143-1&h=1245599331&u=https%3A%2F%2Ffermiamerica.com%2F&a=https%3A%2F%2Ffermiamerica.com%2F)

About Fermi America™:

Fermi America™ (https://fermiamerica.com/) (NASDAQ & LSE: FRMI) is an
advanced energy and hyperscaler development company with a mission to power
the future of artificial intelligence directly to the world's most
compute-intensive businesses through its flagship initiative, Project Matador.
Co-founded by former U.S. Energy Secretary Rick Perry and Co-Founder and
former Co-Managing Partner of Quantum Energy Partners Toby Neugebauer, Fermi
America™ combines a deep bench of proven world-class multi-disciplinary
leaders, the nation's second-largest ~6 GW Clean Air Permit, over $1 billion
in total committed financing, and ~2.5 GW of secured long lead time gas-fired
generation assets (in combined cycle) to build the world's largest next-gen
private power grid. Ultimately constructing ~17 GW of private, low-carbon,
on-demand power, Project Matador is expected to integrate the world's largest
combined-cycle natural gas projects, advanced nuclear power generation,
utility grid power, solar power, and battery energy storage to support
hyperscale AI and advanced compute at scale.

About the Texas Tech University System (TTU System):

The Texas Tech University System is one of the largest systems of higher
education in Texas, with nearly 50,000 students across four institutions:
Texas Tech University, Texas Tech University Health Sciences Center, Texas
Tech University Health Sciences Center El Paso, and Angelo State University.
Guided by its mission to transform lives through higher education and empower
progress in Texas and beyond, the TTU System partners with industry leaders to
advance research, innovation, and economic development. The TTU System's
partnership with Fermi America on Project Matador reflects its commitment to
driving transformational growth in Texas and supporting America's
technological and energy future.

About Yorkville Advisors Global, LP:

Yorkville Advisors Global, LP ("Yorkville") is a global investment manager
providing flexible financing solutions to businesses worldwide. Yorkville
specializes in customized debt and equity financing solutions for public and
private companies across diverse sectors and geographies. Founded in 2001 by
Mark Angelo, Yorkville has invested in over 750 companies across more than 22
countries, with transactions valued at more than $7.5 billion.

About Texas Capital Securities:

TCBI Securities, Inc., doing business as Texas Capital Securities is a
subsidiary of Texas Capital Bancshares, Inc., and an affiliate of Texas
Capital Bank. Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the
Russell 2000® Index and the S&P MidCap 400®, is the parent company of
Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB
and its separate, non-bank affiliates and wholly owned subsidiaries. Texas
Capital is a full-service financial services firm that delivers customized
solutions to businesses, entrepreneurs and individual customers. Founded in
1998, Texas Capital is headquartered in Dallas with offices and financial
centers in Austin, Houston, San Antonio and Fort Worth and has built a network
of clients across the country. With the ability to service clients through
their entire lifecycles, Texas Capital has established commercial banking,
consumer banking, investment banking and wealth management capabilities.

Forward-Looking Statements:

This press release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, including statements
regarding our strategy, future operations, financial position, prospects,
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forward-looking statements are not guarantees of future performance, but are
based on management's current expectations, assumptions, and beliefs
concerning future developments and their potential effect on us, which are
inherently subject to uncertainties, risks and changes in circumstances that
are difficult to predict. Our expectations expressed or implied in these
forward-looking statements may not turn out to be correct. Our results could
be materially different from our expectations because of various risks.

 

 

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