Overview

• Fermi closed down 7.87% at $26.35 on Monday, marking a third straight daily decline after its market debut.
• The company sold 32.5 million shares at $21 in its IPO, raising up to $682 million based on reported figures.
• Underwriters received a 30-day option to buy up to an additional 4.87 million shares at the offer price, subject to customary discounts.
• Fermi disclosed an employment agreement naming Toby Neugebauer as chief executive for a three-year term with automatic one-year renewals.
• Market commentary attributed the pullback to profit-taking, while the company pitches gigawatt-scale, highly redundant power infrastructure for AI.