$FRMI important filing.
This is a DEFC14A consent revocation statement, basically Fermi’s current board responding to former CEO/co-founder Toby Neugebauer’s attempt to call a special shareholder meeting and regain influence over the company.
The bullish part is that Fermi says Fermi 2.0 is already in active strategic discussions. Since Toby’s removal, the company says it has held preliminary discussions with seven potential tenants and twelve potential JV partners, with more advanced negotiations ongoing.
Fermi also says it is increasingly confident it will announce one or more transactions with a tenant and/or JV partner, although there are no guarantees yet.
This is not a signed tenant agreement, so the thesis is not de-risked yet. But it confirms the tenant/JV process is alive, active.
If you still believe in AI growth as much as I do, a deal is just a matter of time, fermi will rip, the upside potential here is quite big.
Link:
bamsec.com/filing/1213900260…